Infantino defends FIFA investment plan amid mounting backlash
Summary
FIFA President Gianni Infantino defended a plan to create a private company to handle the commercial rights of FIFA’s major competitions. He said joining the plan is optional for FIFA’s member associations and aims to bring more money to football worldwide. However, several football groups and officials have criticized the plan for a lack of transparency and concern over selling parts of football’s commercial rights.Key Facts
- FIFA plans to form a private subsidiary called FIFA Forward Enterprise (FFE) to manage commercial rights of major competitions.
- FIFA aims to raise $4.2 billion by selling minority, non-controlling shares to investors while keeping majority control.
- Member associations would receive $40 million if they agree to join, but must sign up by September 19.
- Infantino said the plan is an opportunity, not a requirement, and requires approval from FIFA’s 211 member associations and its council.
- Critics like UEFA, CONCACAF, and the Asian Football Confederation have expressed concerns over transparency and governance.
- The European Union also publicly opposed the plan, saying football should not be treated as a tradable asset.
- Media reported that Infantino could become commissioner of FFE after his current term ends, although FIFA denied these claims.
- Potential investors include Thrive Capital and an arm of JP Morgan Chase, companies linked to high-profile figures in finance and politics.
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