FIFA insists ‘nobody is selling football’ and will carry on with consultations over introducing private investment into the World Cup.
On Thursday, UEFA’s 55 member nations voted unanimously to boycott all FIFA tournaments if Gianni Infantino’s controversial plans to sell stakes in the World Cup go ahead.
But in a statement released in the early hours of Friday morning, FIFA blamed ‘incorrect media reports’ for ‘disrupting’ the consultation process.
FIFA said: ‘We have heard the feedback provided by the respective confederations in relation to the proposed establishment of FIFA Forward Enterprise (FFE) and would like to address the issues that have surfaced since the initial media reporting on Tuesday.
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‘We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation.
’Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA has the ability to express its vote based on facts.
‘FFE has been proposed solely to ensure that all FIFA Member Associations (MAs) have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, and that this does not come at the cost of either the spirit or the governance of FIFA or football itself.
‘Nobody is selling football. This is not something FIFA would ever entertain.’
Why is FIFA’s World Cup sell-off plan being opposed?
FIFA’s aim is to increase revenue from future World Cup and Club World Cup tournaments.
The plan is for FIFA to set up a new company called FIFA Forward Enterprise (FFE) to deal with the commercial operations.
FIFA would retain the majority share in FFE, which means it would still oversee football governance, fixture calendars and decisions on the pitch.
However, the problem starts with FIFA trying to raise a further $4.2 billion (£3.6m) through private investment.
Although private investors would only have a minority stake in FFE, they would still expect to have a say in decisions related to the World Cup, which could then have an impact on players and supporters.
Private investors could also pressure FIFA into expanding the World Cup, or even hosting the tournament more frequently than every four years.
FIFA wants to create a company named FIFA Forward Enterprise (FFE) to oversee the commercial side of the World Cup and its other tournaments, with a stake of up to 20% offered to private investors.
Thrive Eternal, an investment fund run by Joshua Kushner-founded Thrive Capital, is expected to lead the proposed investor group, FIFA said. Joshua is the brother of Jared Kushner, who is the son-in-law of United States President Donald Trump.
FIFA’s 211 member associations, including the English Football Association, have been promised windfalls of up to $40 million (£30.1m) each if they agree to the proposal by the September 19 deadline.
UEFA reaffirmed their opposition to the proposal on Thursday with the threat of a boycott if other member associations vote through the proposal in September.
‘We unanimously and unequivocally reject FIFA’s proposal to transfer ownership interests in the World Cup and other FIFA competitions to private investors,’ its statement added.
‘The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies. It has been built over generations by players, national teams and supporters across every continent. No part of it should ever be surrendered to private investors. The World Cup is not for sale.
‘It is both irresponsible and indefensible that a proposal of such significance for football was conceived in secret and brought to the brink of approval without any meaningful consultation with those entrusted with stewarding the game. This is not merely a profound failure of leadership, but an abdication of FIFA’s duty as the custodian of world football.
‘National associations around the world are now presented with an ultimatum: accept the irreversible capture of football’s greatest competitions or bear the consequences. This is not a “democratic decision”, but governance by intimidation – an act of coercion unworthy of an institution entrusted with the stewardship of the global game.’
After UEFA threatened to boycott future World Cup tournaments, the English Football Association said in a statement: ‘We stand shoulder to shoulder with our European colleagues and fully support the collective view. We oppose FIFA’s plans – the FIFA World Cup belongs to football and always will.’
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