"It's just a proposal": After outrage in Europe, Infantino defends World Cup share sale plan
FIFA President Gianni Infantino is attempting to lower tensions surrounding the FIFA Forward Enterprise plan, asserting that it is merely a consultative proposal rather than a binding step. UEFA has labeled the initiative a "red line" and is considering a potential boycott of FIFA tournaments.
FIFA President Gianni Infantino spoke out late Wednesday night in defense of the World Cup privatization plan, which has come under fire from UEFA.
"It is part of a democratic process of consultation, and above all — it is an opportunity, not an obligation. It is a golden opportunity to accelerate the development of the game around the world. But again, it is only a proposal, not an obligation," Infantino stated.
According to the plan, the new company, FIFA Forward Enterprise (FFE), will consolidate all of FIFA's commercial rights, including broadcasting, sponsorships, ticket sales, commercial licenses, and tournament management. FIFA plans to raise up to 4.2 billion dollars through the sale of non-controlling minority shares, with the company assigned an initial valuation of 20 billion dollars. FIFA emphasized that it will maintain control over FFE, as well as the exclusive authority to "set the rules of the game, manage the competitions, and the international calendar."
Infantino argued that the goal is to realize "commercial value that has not been utilized until now," benefiting the 211 member associations of the organization. As previously reported by The Times, the plan involves private investors, most notably Joshua Kushner, brother of Jared Kushner, son-in-law of US President Donald Trump.
UEFA has strongly opposed the move, defining it as a "red line." According to BBC reports, European football bodies are even considering the possibility of boycotting FIFA tournaments. In a sharp statement, UEFA declared: "The soul and management of football are not assets that can be traded — especially when there is no transparency regarding who benefits from it financially. None of us are the owners of football. It is not FIFA's to sell."
In response, the 55 associations within UEFA are set to hold an emergency meeting this week to formulate a joint plan of action. A senior source in English football described the threat posed by the FIFA plan as one of the most serious the sport has ever known, comparing it to the failed attempt to establish the European Super League in 2021.
