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Opposition is growing in the soccer world to a plan by the sport’s governing body, FIFA, to spin off its events, principally the World Cup, as a separate commercial entity and invite investors to take a stake in it.
The new company, FIFA Forward Enterprise, has been valued at about $20 billion. FIFA would seek to sell a roughly 20% stake in the entity. Among the potential investors is Thrive Eternal, led by Joshua Kushner, brother of Donald Trump’s son-in-law Jared, according to the Financial Times.
Among the opponents of the plan are the sport’s governing bodies in North America and Europe.
Concacaf, which runs soccer in North America, Central America and the Caribbean, said it was “deeply concerned by the lack of due process” when the plan was conceived. The federation said it was disappointed that the plan has been revealed “before any discussion with the relevant governance bodies and stakeholders has taken place.”
UEFA, which runs the sport in Europe, said FIFA’s plan “crosses a line that [soccer’s] governing institutions should never cross.” It added, “The soul and governance of [soccer] are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of [soccer]. It is not FIFA’s to sell.”
UEFA is fast-tracking efforts to hold an emergency meeting of its member associations this week, sources told ESPN, to discuss plans, including a potential World Cup boycott.
The FIFA plan is subject to ratification by its 211 national member associations. Concacaf represents 41 members, while UEFA has 55.
Under the plan, funds raised from the sale of a stake in FIFA Forward Enterprise would be used in part to increase annual payments to members from $2 million a year to $5 million. Each would also receive a one-off payment of $20 million.
FIFA president Gianni Infantino said in a statement, “Every FIFA member association should have an opportunity to seek a fair share of the available funding to shape its own future, deciding for itself rather than relying on others. This is about the democratization of [soccer] worldwide.”
Among other opponents of the plan are U.K. prime minister Andy Burnham, who said, “The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell. Dress the deal up however you like. Once you have sold a piece of it, you have sold out.”
Much of the opposition to FIFA’s plan is focusing on the role of Infantino, and his relationship with President Trump.
Football Supporters Europe, which represents fans, said, “The World Cup is not for sale. Enough of this charade. [FIFA] member associations — and everyone who cares about the future of the game — must stand up to the man who wants to sell world [soccer].”
