Uefa has launched a scathing attack on FIFA president Gianni Infantino’s ambitious proposal to set up a $20 billion business company to manage the World Cup and other major tournaments, saying soccer’s governing institutions have crossed a dangerous line.The European football body reacted strongly after FIFA officially presented plans for the FIFA Forward Enterprise (FFE), a new entity that would seek up to $4.2 billion from private investors in exchange for minority stakes, without control of the business, which was valued at $20 billion.The proposal immediately raised concerns about the future ownership and governance of football, with UEFA questioning the transparency behind the project and warning against the commercialization of the sport’s biggest competitions.
“It is not FIFA to sell”
In an unusually forceful statement, UEFA made its opposition clear.“It is not FIFA to sell,” the governing body said according to an AP report. “None of us owns the football.”The organization also warned that the proposal threatens the long-term governance of the game.“The soul and governance of football are not assets for trading – especially with zero transparency as to who is profiting financially,” UEFA said as it responded to reports of FIFA selling stakes linked to its competitions.Calling the development deeply concerning, UEFA added that it viewed the reports “extremely seriously. So should every National Football Association.”The statement concluded with another strong warning: “This crosses a line that football’s governing institutions should never cross.”UEFA represents 55 national associations, making it one of the most influential confederations of FIFA.
FIFA defends the investment plan
FIFA, meanwhile, has insisted that the project is designed to strengthen global football rather than privatize it.According to the governing body, the FIFA Forward Enterprise proposal would oversee competitions such as the FIFA World Cup and the Club World Cup, while raising fresh capital from carefully selected long-term investors.Investment bank JP Morgan is working with FIFA on the project, while future investors include Thrive Eternal, launched by Joshua Kushner. Joshua is the brother of Jared Kushner, son-in-law of the President of the United States Donald Trumpalso fueling scrutiny over FIFA’s political and business connections.FIFA said its 211 member associations would have to approve the proposal and could receive up to $20 million in one-time capital if the plan is adopted.Defending the initiative, Infantino said: “This is about the democratization of football worldwide.”
Echoes of the failed FIFA 2018 proposal
This is not the first time Infantino has tried to bring private investment in FIFA competitions.In 2018, I proposed a confidential $25 billion partnership backed by Japan’s SoftBank to launch new global tournaments, including an expanded Club World Cup. This proposal was eventually collapsed after fierce resistance from UEFA, which feared it would undermine the Champions League and the European Championship.Despite that setback, Infantino later expanded the Club World Cup and strengthened FIFA’s commercial ties with Saudi Arabia, which will host the 2034 FIFA World Cup.