FIFA plan for Kushner-backed $20 billion operation to run World Cup meets fury from Europe’s UEFA
FIFA says the new entity could raise $4.2 billion and lift annual development funding for its 211 member associations to $20 million each.
- Later this week, UEFA's 55 member associations, including the Football Association of Wales , will hold an emergency meeting to discuss a potential boycott of the World Cup following FIFA's proposal to sell a roughly 20% stake in FIFA Forward Enterprise.
- FIFA claims it will retain "exclusive authority" over regulatory decisions while arguing the new entity will increase development spending to more than $7.5 billion over four years, including raising annual payments to $5 million and a $20 million one-off payout per member.
- UEFA stated the plan "crosses a line that football's governing institutions should never cross," while UK Prime Minister Andy Burnham asserted "football does not belong to investors" and called the World Cup "not a product."
- Representing 41 members, Concacaf expressed it was "deeply concerned by the lack of due process," noting the proposal was revealed without prior discussion with relevant governance bodies and stakeholders.
- Potential investors include Thrive Eternal, led by Joshua Kushner, though a World Cup without European representation would significantly slash the tournament's value given Europe's status as football's powerhouse.
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525 Articles
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Opposition to FIFA's World Cup private equity plan grows as Asia warns of risks and Europeans meet
Global opposition to FIFA President Gianni Infantino’s plan for selling a stake in World Cup revenue to private investors has grown. Asia’s soccer leader has warned member federations about threats from the FIFA plan to their own competitions. Asian Football…
Editorial Deportes, 29 Jul (EFE).- FIFA confirmed this Wednesday that it intends to sell 20% of FIFA Forward Enterprise (FFE), the new subsidiary that seeks to create to manage the trade operations and events of the organization, such as the World Cup. In an explanation published on its website that summarizes in didactic way the information published to date, FIFA assured that the new subsidiary is valued at about 20 billion dollars, according …
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