UEFA accuses FIFA of 'selling football' with World Cup investment plan
Summary
FIFA plans to create a semi-private company called FIFA Forward Enterprise (FFE) to sell minority stakes in the business side of the World Cup and other competitions. UEFA and others have criticized this plan, saying it risks putting profits above the game's integrity and that football should not be treated as a product to be sold.Key Facts
- FIFA wants to raise $4.2 billion by selling minority shares in FFE, a new semi-private company.
- FIFA will keep majority control and authority over football rules and competitions.
- FIFA hopes FFE will be valued at $20 billion initially.
- Each of FIFA’s 211 member associations can buy a $20 million stake in FFE.
- Critics like UEFA and former FIFA president Sepp Blatter say the plan could harm football by mixing profit motives with governance.
- The plan must be approved by FIFA’s 38-member council and most member associations.
- Potential investors include Thrive Capital and JP Morgan Chase.
- British Prime Minister Andy Burnham said football belongs to its fans and players, not investors.
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