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CONCACAF Rejects FIFA Chief's World Cup Stake Sale Plan
🇹🇷 Turkey /Sports

CONCACAF Rejects FIFA Chief's World Cup Stake Sale Plan

From Cumhuriyet · () Turkish

Translated from Turkish, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • CONCACAF and 41 member federations rejected FIFA President Gianni Infantino's plan to sell stakes in the World Cup to private investors.
  • They expressed deep concern over the short timeframe given by FIFA to discuss the proposal, questioning the need for private capital after a profitable World Cup.
  • CONCACAF reaffirmed that football's future and its greatest asset must remain within the football family.

CONCACAF, representing the confederation and 41 national football federations, has officially rejected FIFA President Gianni Infantino's proposal to establish a new company to control the World Cup and Club World Cup and sell stakes to private investors. The confederation announced its decision, signaling a significant pushback against Infantino's ambitious commercial plans.

The member federations voiced profound concern regarding the limited time provided by FIFA to deliberate on the "FIFA Forward Enterprise" proposal. They questioned the necessity of seeking private equity investment to finance "FIFA Forward" programs, especially following what was described as the most profitable World Cup in history. This skepticism highlights a broader unease among member associations about the direction of FIFA's commercial strategies.

History has shown FIFA and the football family what happens when the game's custodians overlook its values.

— CONCACAFCONCACAF's statement rejecting FIFA President Gianni Infantino's plan to sell stakes in the World Cup to private investors.

In a strong statement, CONCACAF declared, "History has shown FIFA and the football family what happens when the game's custodians overlook its values." The confederation emphasized its commitment to ensuring that "the future of football and its greatest asset remain in the hands of our football family." This stance underscores a desire to maintain control over the sport's core assets and revenue streams within the existing football governance structure.

The rejection follows a similar critical response from UEFA, which had previously expressed strong opposition to Infantino's plan, even suggesting a potential boycott of the tournaments. Infantino's proposal reportedly involves creating a new entity to manage the men's and women's World Cups and the Club World Cup. Under the plan, each of FIFA's 211 member federations would receive shares valued at approximately $20 million, which they could hold or sell for revenue. Reports also suggest Infantino intends to lead this new company as "commissioner" after his current presidential term ends.

CONCACAF, reaffirms that the future of football and its greatest asset must remain in the hands of our football family.

— CONCACAFCONCACAF's statement rejecting FIFA President Gianni Infantino's plan to sell stakes in the World Cup to private investors.
DistantNews Editorial

Originally published by Cumhuriyet in Turkish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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