Concacaf Criticizes FIFA's Plan for Private Investment in World Cup Business

The Confederation of North, Central America and Caribbean Association Football (Concacaf) has joined the criticism against FIFA's plan to involve private investors in the business of the World Cup. FIFA recently announced its intention to create a subsidiary to manage the World Cup and other events, allowing external investment.

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Concacaf only became aware of this matter through press reports and subsequently through a statement.

Concacaf expressed its deep concern over the lack of due process, stating it only learned about the proposal through media reports and a subsequent statement. The confederation emphasized that such significant decisions should be guided by good governance, robust processes, and responsible long-term administration. They highlighted that as custodians of the game, decisions must prioritize its best interests.

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We share the disappointment of many within our region and the football community that this level of detail has been designed and shared publicly before any debate has taken place with the relevant governance bodies and stakeholders.

Previously, the Union of European Football Associations (UEFA) had vehemently opposed the plan. UEFA accused FIFA of putting the "soul" of the sport up for sale, arguing that the core of football and its governance are not commodities to be traded, especially without transparency regarding financial benefits. UEFA stressed that no single entity owns football, and FIFA has no right to sell it.

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This crosses a line that the institutions governing football should never cross. UEFA takes this with the utmost seriousness.

FIFA plans to establish "FIFA Forward Enterprise," a $20 billion subsidiary, to oversee commercial and event operations. While FIFA would retain control, it aims to sell up to 20% stakes to private investors, potentially raising $4.2 billion. The organization, which recently concluded a 48-team World Cup in the United States, Canada, and Mexico, seeks this investment to fund its operations and development programs.

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The soul and governance of football are not assets that can be commercialized, especially when there is no transparency about who benefits financially. None of us own football. And FIFA has no right to sell it.