FIFA is proceeding with consultations on its plan to sell shares in the World Cup football business, despite strong opposition and threats of a boycott from UEFA.
FIFA has confirmed it will continue to solicit feedback from its 211 member nations regarding a plan to sell shares in a new company established to manage the commercial rights of the World Cup. The organization emphasized that all member nations should make their decisions based on accurate information, despite UEFA, with 55 nations, boycotting the plan.
On August 1, 2569, Reuters reported that the International Federation of Association Football (FIFA) confirmed it would proceed with the consultation process among member nations regarding plans to attract private sector investment to the World Cup and other major tournaments, despite strong opposition from the Union of European Football Associations (UEFA) and several regional football confederations.
Previously, FIFA revealed plans to establish a new company called FIFA Forward Enterprise, valued at approximately US$20 billion, to oversee the management of competitions and commercial rights, allowing external investors to hold up to 20,000% of the shares.
However, the plan has been widely criticized, with many stating that they were not consulted beforehand and expressing concerns that allowing private investors to participate could jeopardize the long-term management of the World Cup.
FIFA stated in a press release that the previously planned consultation process was affected by inaccurate news reports, and confirmed that discussions would continue to ensure that all member associations can vote based on complete facts.
UEFA, which has accused FIFA of selling out the “spirit of football,” has voted with all 55 member nations to prepare to boycott all FIFA competitions if the plan goes ahead.
FIFA reiterated that "no one is selling football" and affirmed that no single organization can claim to represent all 211 member nations. Every member nation should have the opportunity to consider proposals and participate in shaping its own future under FIFA's democratic principles.
Reference: reuters.com
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