FIFA to proceed with consultation over private investment plans despite UEFA backlash

FIFA announced Friday it will continue its consultation process for private investment in the World Cup and other tournaments, moving forward despite a strong backlash from UEFA. The global soccer body revealed plans Tuesday to establish a $20 billion subsidiary, FIFA Forward Enterprise, to manage commercial and event operations for its major competitions. This move would allow external investors to acquire stakes of up to 20%. The proposal immediately drew sharp criticism from regional confederations, which stated they were blindsided by the plan. FIFA acknowledged the disruption caused by "incorrect media reports" but asserted its commitment to a consultation process where "each MA (Member Association) has the ability to express its vote based on facts." FIFA emphasized that "no single entity can claim to represent all 211 MAs around the world" and that "each MA should be allowed to review the proposal and have a say in shaping their own future." European soccer's governing body, UEFA, accused FIFA of "putting the sport's 'soul' up for sale." In response, UEFA and its 55 member nations voted Thursday to boycott all FIFA tournaments. FIFA, however, denied any intention to sell football, stating, "This is not something FIFA would ever entertain." The organization stressed adherence to democratic principles, ensuring all member associations have a voice in their future.

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Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA (Member Association) has the ability to express its vote based on facts.