2 months ago
FIFA Plans $4.2B Stake Sale, Faces Global Backlash
FIFA wants to make a new company that will run the World Cup and other big tournaments.
They plan to sell a small part of that company to private investors for $4.2 billion.
If the member countries agree, each will get $20 million right away.
The plan is led by a group headed by Joshua Kushner, who is related to Donald Trump’s family.
Many football groups, like UEFA and the English FA, say this is wrong because it could give private people too much control over football.
They worry about fairness and transparency.
FIFA says the money will help football everywhere, but critics think it could hurt the sport’s spirit.
FIFA will create FIFA Forward Enterprise (FFE) to manage commercial rights of the World Cup and sell 21% of it for $4.2 billion.
Member associations would receive $20 million each if they approve, with a September 19, 2024 deadline.
The investor group would be led by Thrive Eternal, headed by Joshua Kushner, brother of Jared Kushner (Trump’s son‑in‑law).
UEFA, AFC, CONCACAF, and the English FA condemned the plan as a breach of football governance and “pure bribery.”
FIFA claims the money will boost global football finances, but critics fear loss of control and lack of transparency.
- Who
- FIFA President Gianni Infantino, FIFA, member associations, UEFA, AFC, CONCACAF, English FA
- What
- Proposal to create FIFA Forward Enterprise and sell a minority stake to private investors
- Where
- Worldwide, FIFA headquarters in Zurich
- When
- Announced early 2024, approval deadline September 19, 2024
- Why
- To raise $4.2 billion and distribute funds to member associations
Key facts
- Proposed Stake Sale
- 21% of FIFA Forward Enterprise
- Estimated Value
- $4.2 billion
- Member Association Payment
- $20 million each
- Deadline for Approval
- September 19, 2024
- Investor Lead
- Thrive Eternal (Joshua Kushner)
Quotes
Hans‑Joachim Watzke
Vice‑president of UEFA's executive committee
“The AFC was not consulted on the proposal and is disappointed that a matter of such significance entered the public domain before the AFC family had been afforded the opportunity to examine and discuss it through the appropriate and established governance channels.”
indianexpress.com
“"This crosses a line that football's governing institutions should never cross. The soul and governance of football are not assets to trade -- especially with zero transparency as to who gains financially," it said.”
freepressjournal.in
Glenn Micallef
EU commissioner for sport
“Hands off our game.”
wionews.com
Sources
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