Ex-FIFA chief Blatter blasts plan to sell stake in World Cup to investors
Summary
Sepp Blatter, former FIFA President, criticized FIFA’s plan to create a $20 billion company to run the World Cup and sell shares to outside investors. He said the World Cup should not be treated as a business asset owned by a few people but belongs to football fans and is part of the sport’s cultural heritage.Key Facts
- FIFA plans to create a subsidiary to manage the World Cup and other events.
- The company could sell up to 20% of its shares to outside investors.
- Sepp Blatter led FIFA for 17 years until 2015.
- Blatter said football belongs to the people, not to individuals or institutions.
- European football groups like UEFA oppose FIFA’s plan, saying it puts the game up for sale.
- Blatter said the World Cup should not be treated as a product for private investors.
- He believes FIFA should protect the World Cup, not own it.
- Blatter was surprised by FIFA’s plan and said he would not have done that during his leadership.
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