FIFA has announced plans to sell its stake in the organization to a third-party investor. ) (Image: Getty)
Gianni Infantino plans to sell his stake in FIFA and the World Cup to private investors. The governing body has confirmed that it will invite third parties to make a “minority and non-controlling investment” in FIFA Forward Enterprise (FFE). JPMorgan Bank is committed to working with FIFA, and other advisors such as Open Economics are in talks with potential long-term investors.
Infantino and the FIFA Secretariat will retain control of the project’s development, while external investors will have a minority stake without involvement in its operations. US President Donald Trump’s administration has discussed plans to form a new company to oversee FIFA’s men’s and women’s competitions, the World Cup and the Club World Cup, The Times reported.
Each of the 211 member associations will be offered the opportunity to participate in the FIFA Fast Forward Program (FFP). The Times reported that one football executive described the plan as a “nuclear bomb” for the game. The proposal states that FIFA would retain majority ownership in the company, private investors would buy between 20 and 30 percent, and member associations would receive a modest 20 percent stake.
UEFA issued a statement strongly condemning the proposal. “This is a line no football governing body should ever cross. UEFA takes this matter very seriously and so should all national football associations.”
“So should leagues, clubs, players, supporters, governments and all those who care about the future of the game. The soul and governance of football is not a tradable asset. There is zero transparency, especially about who benefits financially. None of us owns football. It is not FIFA that sells football.”
The venture reportedly sparked concerns that private investors could put pressure on the men’s World Cup to be held in countries where they can maximize commercial benefits. FIFA confirmed to Martin Ziegler of the Times that the Infantino plan is in talks with American businessman Joshua Kushner, whose brother Jared Kushner is married to Trump’s daughter Ivanka, as the lead investor.
Infantino, 56, is expected to be re-elected unopposed as FIFA president until 2031. The move to the new model could see Infantino take on the role of commissioner, with some suggesting his remuneration for the position could be comparable to that of NFL commissioner Roger Goodell, who earns $64m (about £48m) a year, around 10 times the FIFA chief’s current salary.
Infantino has faced considerable criticism following this summer’s North American World Cup. Ticket prices, logistical flaws surrounding the tournament, and President Trump’s involvement in suspending the suspension of U.S. representative Folarin Balogun have all come under intense scrutiny.
Amid fierce opposition from UEFA, concerns have been raised about FIFA’s plans. (Image: Getty)
In a statement released alongside news of the proposed FIFA share sale, Infantino vowed to give all FIFA associations the opportunity to seek a fair share of funds to shape their future. “Football is the world’s most popular sport and an extraordinary driver of human and social development,” he said.
“Part of the game has turned its popularity into incredible commercial value, and we want to celebrate that success and continue as it improves the game as a whole. Our job is to ensure that the rest of football grows alongside it. FIFA exists to support sustainable and inclusive development in every corner of the world.”
“FIFA, as the global governing body, has a responsibility to ensure that the game reaches every corner of the world and that the value it creates supports federations and communities everywhere. Our next stage of growth requires building structures that ensure the commercial side of the game operates as a focused, dedicated business and that value is better shared around the world.”
“All FIFA member associations should have the opportunity to make their own decisions and seek a fair share of the funds available to shape their future, rather than relying on others. This is about the democratization of football around the world. All FIFA member associations, regardless of their size, resources or geographical location, will have the voice and opportunity to decide their own policies.As football has become a truly global sport, the benefits must be felt across the world. ”
