Sell \u200b\u200bbetting on soccer’s biggest tournament<\/span> For private equity investors.<\/p>\n“UEFA and its national associations will not take part in FIFA competitions,” European football’s body announced after an emergency online meeting of its 55 member nations.<\/p>\n
The next scheduled FIFA tournament will be held in Europe in the coming weeks. The Under-20 Women’s World Cup will be held in Poland from September 5th. FIFA is the only four British federations in the running to host the 2035 Women’s World Cup. The decision is expected on November 23rd.<\/p>\n
UEFA said in a statement: “Some items are too important to sell.” “The FIFA World Cup is about football, and always will be. And as long as Europe has a say, it will never be for sale.”<\/p>\n
A strategic meeting was convened to confront the FIFA president. Infantino’s offer is $20 million<\/span> It must be approved by mid-September for each of FIFA’s 211 global members.<\/p>\nInfantino’s secret project to spin off his commercial operations in a new $20 billion subsidiary called FIFA Forward Enterprises (FFE), 20% owned by private investors, was revealed on Tuesday. The core investor will be a New York investment firm founded by Joshua Kushner, the younger brother of US President Donald Trump’s son-in-law Jared Kushner.<\/p>\n
On Tuesday, Infantino sent a letter to the 211 members who are already the de facto owners of FIFA as a nonprofit organization under Swiss law, saying that if they approve FFE, the $10 million base funding pledged over the next four years will double to $20 million. He predicted that FIFA’s funding would be $86 million through 2038, instead of about $36 million each.<\/p>\n
“This is not just a gross failure of leadership, but an abdication of FIFA’s duties as the custodians of world football,” UEFA said. Infantino has been a staff member for many years and served as general secretary, similar to CEO, when he was first elected to head FIFA in 2016.<\/p>\n
Is Infantino’s presidency in jeopardy?<\/h2>\n
Anger and dissatisfaction with Mr. Infantino is growing among soccer circles, including three of the continent’s six associations, and his high-stakes financial gamble could threaten his previously assured 11-year tenure as FIFA president.<\/p>\n
FIFA has set a November 18 deadline for potential candidates to declare in the 211-member presidential vote scheduled for March next year in Rabat, Morocco.<\/p>\n
Eleven days before the World Cup final in East Rutherford, New Jersey, Infantino appeared to have a clear path to unopposed re-election for a fourth and final term until 2031. All the fuss over playing US forward Folarin Balogun<\/span> He played against Belgium despite receiving a red card in the previous match.<\/p>\nFootball insiders have said privately that Infantino is expected to take on a well-paid commissioner-like role in the FFE spin-off from 2031 onwards.<\/p>\n
The Football Supporters Europe Group, which advises UEFA on fan issues such as ticket prices, posted: “The match is over, Gianni #InfantinOUT” following the boycott threat.<\/p>\n
Football world concerns about investor pressure<\/h2>\n
UEFA on Thursday detailed why soccer officials are concerned about outside investors owning shares in the world’s biggest events, including the World Cup and the men’s and women’s Club World Cups.<\/p>\n
UEFA said: “The moment external investors take ownership of FIFA competitions, football will change forever.” \u201cCommercial interests become permanent obligations. Investor expectations become daily pressures.\u201d<\/p>\n
Infantino presented the private equity proposal as an opportunity to “turbocharge” funding for the development of soccer around the world, on which the majority of FIFA’s 211 member states depend.<\/p>\n
Approximately 40 UEFA affiliates spoke at an emergency meeting to express anger at FIFA’s failure to allocate some of its billions of dollars in reserves to fund additional development programmes.<\/p>\n
“As a result of today’s discussions, UEFA national teams will not take part in FIFA competitions as long as this proposal remains in place, unless this proposal is completely abandoned and FIFA is given binding guarantees that governance and competitions will never again be privatized,” European football’s body said.<\/p>\n
Asia adds rare criticism of Infantino<\/h2>\n
In a seismic day in football politics, the traditional foundations of support for FIFA and Infantino in Asia were shaken early Thursday.<\/p>\n
“FIFA’s unilateral action appears to be shaking the very foundations of continental football,” Asian Football Confederation president Sheikh Salman bin Ibrahim Al Khalifa said in a letter to FIFA’s 46 members, warning them of the risks to their respective competitions.<\/p>\n
Sheikh Salman, Infantino’s ally since the defeat He was elected as FIFA president in 2016.<\/span>wrote, “No effort such as this would be successful without the support of all federations, which is not currently the case.”<\/p>\nIn a video message released by FIFA on Wednesday, Infantino insisted that spinning off the money-making business was a “proposal, not an obligation.”<\/p>\n
A presentation to FIFA members, co-authored with bank advisers from JPMorgan and viewed by The Associated Press, sets out FFE’s goals as “commercial rigor and expertise to more effectively leverage broadcast rights, sponsorships and a growing tournament portfolio.”<\/p>\n
FIFA puts pressure on continental games<\/h2>\n
Expanding its portfolio could also include adding more teams to FIFA competitions such as the Men’s and Women’s World Cups and the Club World Cup, as well as including the United States and hosting them more frequently than every four years.<\/p>\n
As FIFA adds more teams, matches and competitions, its value, status and space will be squeezed. Crowded global match calendar<\/span> For organizations that are funded and organized by football bodies from six continents, such as UEFA and AFC. These include World Cup qualifiers, continental tournaments and the Champions League.<\/p>\nSheikh Salman wrote: “It is important that the AFC family fully understands how such initiatives can impact key areas of world and Asian football, including the sustainability of federations and (national) competitions, as well as the organizational and commercial landscape surrounding AFC’s activities.”<\/p>\n
UEFA’s previous boycott threat<\/h2>\n
blackmailed World Cup boycott from Europe<\/span> This helped derail Infantino’s plans to play a World Cup every two years instead of four in 2021.<\/p>\n___ <\/p>\n
AP Soccer: https:\/\/apnews.com\/hub\/soccer<\/span> and AP World Cup coverage<\/span><\/p>\n<\/p><\/div>\n
\n
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