Concacaf joins criticism of Fifa plan to sell off World Cup stakes to private investors
Summary
Concacaf has publicly criticized FIFA’s plan to sell stakes in a new World Cup commercial entity to private investors, expressing concerns over a lack of proper consultation and transparency. The proposed sale, intended to raise billions to fund football projects, has surprised key football leaders who were not informed beforehand.Key Facts
- Concacaf and UEFA have both criticized FIFA’s plan to sell World Cup-related commercial rights to private investors.
- Concacaf officials said they first heard about the plan through media reports, not direct communication from FIFA.
- The new commercial entity, FIFA Forward Enterprise, is valued at $20 billion and aims to raise about $4.2 billion through the sale.
- FIFA has given its 211 member associations a deadline of September 19 to agree to the sale and receive payments of around $20 million each starting January next year.
- Joshua Kushner’s company, Thrive Eternal, is leading the investor group; he is the brother of Jared Kushner, President Trump’s son-in-law.
- UEFA strongly opposes the move, calling it a threat to football’s governance and plans to hold emergency talks on the issue.
- The sale plan risks increasing pressure to expand the World Cup to 64 teams and hold it more often due to its high commercial value.
- Britain’s Prime Minister Andy Burnham also criticized the proposal, saying the World Cup does not belong to investors.
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