Concacaf Rejects FIFA Plan to Sell World Cup Stakes to Private Investors, Backed by 41 Members
Updated
Updated · Concacaf · Jul 30
Concacaf Rejects FIFA Plan to Sell World Cup Stakes to Private Investors, Backed by 41 Members
3 articles · Updated · Concacaf · Jul 30
Summary
Concacaf and its 41 member associations voted to reject FIFA President Gianni Infantino's proposal to create “FIFA Forward Enterprise” and sell interests in the World Cup to private investors.
The bloc said the plan lacked due process, came with an artificially short deadline, and had not been reviewed or approved by the relevant FIFA governance bodies.
Concacaf also questioned why private equity was needed after what it called the most profitable World Cup in history, arguing FIFA's existing reserves should fund development programs instead.
Its FIFA Council members were told to press FIFA on using those reserves for FIFA Forward funding and to insist any future proposal follow formal statutory governance channels.