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British PM Slams FIFA's World Cup Stake Sale Idea: 'Football Isn't a Product'
๐Ÿ‡ญ๐Ÿ‡ท Croatia /Sports

British PM Slams FIFA's World Cup Stake Sale Idea: 'Football Isn't a Product'

From Veฤernji List · () Croatian

Translated from Croatian, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • FIFA President Gianni Infantino is reportedly considering selling a minority stake in the World Cup's commercial operations to private investors.
  • The plan involves creating a new company valued at approximately 17.5 billion euros, with FIFA retaining majority ownership.
  • Both UEFA and British Prime Minister Andy Burnham have strongly condemned the proposal, emphasizing that football belongs to fans, not investors.

FIFA President Gianni Infantino is reportedly exploring a radical proposal to sell a minority stake in the commercial operations of the World Cup to private investors. The plan, as reported by The Times, involves establishing a new company potentially valued at around 17.5 billion euros, a move that could also bring personal financial benefits to Infantino.

Let me say this very directly. Football does not belong to investors. It belongs to the people who fill the stands and who stand by the sidelines week after week, regardless of the weather. The World Cup is not a product.

โ€” Andy BurnhamBritish Prime Minister Andy Burnham's condemnation of FIFA's proposal to sell World Cup stakes.

Under this proposed structure, the new company would manage all of FIFA's competitions, including the World Cup and the Club World Cup. While FIFA would retain the majority ownership, private investors would acquire between 20 to 30 percent of the shares. All 211 FIFA member nations would receive an ownership stake, which they could either keep or sell. A portion of the proceeds would be directed towards national football associations. Discussions about the project have reportedly included the administration of former U.S. President Donald Trump, and FIFA might collaborate with investment bank JP Morgan to raise billions of euros.

Football does not belong to investors. It belongs to the people who fill the stands and who stand by the sidelines week after week, regardless of the weather. The World Cup is not a product. It is the biggest competition in world sport and no one has ever been able to sell it. Decorate the offer as you wish. Once you sell a part, you have sold it. Football belongs to the fans. It always has and always will.

โ€” Andy BurnhamBritish Prime Minister Andy Burnham's strong statement against the commercialization of the World Cup.

This potential deal has drawn fierce criticism from various football bodies. UEFA has vehemently condemned the idea, stating that "the soul and governance of football are not assets to be traded." Similarly, British Prime Minister Andy Burnham strongly denounced the proposal, asserting, "Football does not belong to investors. It belongs to the people who fill the stands... The World Cup is not a product." Burnham emphasized that football has always belonged and will always belong to the fans, regardless of how the offer might be presented.

The soul and governance of football are not assets to be traded.

โ€” UEFAUEFA's official statement criticizing FIFA's plan to involve private investors in World Cup commercial operations.
DistantNews Editorial

Originally published by Veฤernji List in Croatian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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