FIFA proposes a plan to sell shares in the World Cup, which angers the European Football Association | soccer

FIFA has announced plans to sell stakes of up to 20 percent in the World Cup and other events.

FIFA has proposed a plan to sell stakes in the FIFA World Cup and other events to private investors, sparking an angry reaction from UEFA.

Under plans announced by FIFA on Tuesday, a $20 billion subsidiary will be created to manage World Cup finals and other events.

FIFA said it will retain a majority stake in the new FIFA Forward Enterprise, and offer minority stakes for outside investment to raise up to $4.2 billion.

The plan still needs a vote by FIFA’s 211 member states.

FIFA said that if the proposed investor group is successful, it is expected to be led by a company founded by Joshua Kushner, the brother of US President Donald Trump’s son-in-law, Jared Kushner.

UEFA said the proposal “crosses a line that football’s governing institutions should never cross”.

Reinvest it in the game

FIFA just held World Cup 48 teams across the United States, Canada and Mexico – the largest in the tournament’s history.

It is one of the world The richest sports organizationsIt generates billions of dollars, most of it from broadcast rights, sponsorship and other commercial deals linked to the World Cup.

But she says this proposal could raise funds to expand access to the sport and boost global participation, with all the net benefits reinvested in football.

“Football is the most popular sport in the world,” FIFA President Gianni Infantino said in a statement.

“Parts of the game have turned this popularity into great commercial value – we celebrate that success and want it to continue, because it raises the bar for the entire game.

“Our mission is to make sure the rest of football grows with it: FIFA exists to support sustainable and inclusive development in every corner of the world.”

FIFA said that in addition to retaining sole control of the subsidiary, it will retain authority over football administration, competitions, match calendar and organizational and sporting decisions.

“The World Cup is not a product”

The proposal deepens the gap between FIFA and UEFA, with Europe positioning itself as football’s guardian while FIFA, a non-profit organisation, says it is focused on expanding reach through financial donations.

UEFA said in a statement that it takes the new proposals “seriously.”

“This is what every national football association should do. And so should every stakeholder: leagues, clubs, players, fans, governments and everyone who cares about the future of the game.

“The spirit and governance of football are not assets to be traded – especially with the lack of transparency as to who gains financially. None of us own football. It is not FIFA’s to sell.”

The UK’s new Prime Minister, Andy Burnham, joined the critics, saying on social media that sport does not belong to investors.

“The World Cup is not a product. It is the greatest competition in world sport, and no one would ever sell it,” Burnham wrote on X.

“Dress the deal however you want. Once you sell a piece, it’s sold out.”