A fresh power struggle has erupted at the top of world football after UEFA firmly rejected FIFA’s proposal to open the commercial rights of the FIFA World Cup to private investors, insisting the global tournament is not an asset that can be sold for financial gain.
The dispute follows FIFA President Gianni Infantino’s unveiling of plans to establish a new commercial entity, FIFA Forward Enterprise (FFE), which would manage the governing body’s commercial and event operations, including the FIFA World Cup and FIFA Club World Cup.
Under the proposal, FIFA intends to raise up to $4.2 billion by selling minority, non-controlling stakes in the new company to long-term investors, based on an estimated valuation of $20 billion.
Investment banking giant JPMorgan is advising FIFA on the transaction, while Joshua Kushner’s investment firm, Thrive Eternal, has reportedly emerged among the potential investors expected to participate.
Although FIFA would retain overall ownership and control of the entity, the proposal has drawn fierce opposition from UEFA, which warned that football’s governance should never become subject to private commercial interests.
“The soul and governance of football are not assets to trade,” UEFA said in a strongly worded statement.
“None of us are the owners of football. It is not FIFA’s to sell.”
The proposal will require approval from FIFA’s 211 member associations, with each association expected to receive up to $20 million in one-off funding if the plan secures the necessary backing.
FIFA said the funds generated through the investment would strengthen its global football development programmes and expand financial support for member associations around the world.
Infantino defended the initiative as a strategic move aimed at widening football’s global reach and financial sustainability.
According to reports, the FIFA president could also assume a leadership role within the new commercial company after completing his tenure as FIFA president, provided he wins re-election next year and serves until the end of his final term in 2031.
The latest disagreement revives long-standing tensions between FIFA and UEFA over the commercial direction of world football.
In 2018, Infantino attempted to secure a $25 billion investment package to finance new global competitions, including an expanded Club World Cup. That proposal ultimately collapsed after facing strong resistance from UEFA, which argued that football’s premier competitions should not become vehicles for private investment.
With UEFA once again drawing a firm line against further commercialisation of football’s flagship tournaments, FIFA’s latest proposal is expected to trigger intense debate among member associations before any final decision is taken.
The post UEFA rejects FIFA’s controversial $20bn World Cup investment scheme appeared first on The Sun Nigeria.
<small>Source: The Sun Nigeria — read the original story there.</small>
