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Infantino Sets September Deadline for $20 Million World Cup Stake Offer Amidst Federation Opposition
🇲🇽 Mexico /Elections & Politics

Infantino Sets September Deadline for $20 Million World Cup Stake Offer Amidst Federation Opposition

From El Universal · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • FIFA President Gianni Infantino has set a September 19 deadline for member federations to accept a $20 million offer for stakes in the World Cup.
  • The plan involves selling stakes in the World Cup to private investors through a FIFA subsidiary valued at $20 billion.
  • UEFA and other continental confederations have expressed strong opposition and concerns over the lack of due process.

FIFA President Gianni Infantino has issued a firm deadline of September 19 for the 211 member federations to decide on a unique offer: accepting $20 million each as part of a plan to sell stakes in the World Cup to private investors. This initiative involves creating a FIFA subsidiary, reportedly valued at $20 billion, which would manage the organization's competitions, including the World Cup and Club World Cup.

It is my duty and responsibility as FIFA President to present you, our members, with game-changing opportunities.

— Gianni InfantinoInfantino described the proposed deal in a letter to FIFA member federations.

The proposal, backed by Joshua Kushner's investment firm Thrive Capital, has ignited fierce opposition from European football's governing body, UEFA. UEFA plans to convene an emergency online meeting for its 55 member federations to discuss the matter. UEFA has stated that the World Cup "is not FIFA's to sell," signaling a potential conflict similar to the one in 2021 when a proposed biennial World Cup was halted by UEFA-led opposition.

This move by Infantino is seen as the latest in a series of actions aligning with figures associated with former U.S. President Donald Trump. Previous instances include the creation of a FIFA peace prize and allowing Trump to influence player eligibility. The current deal aims for a 12-year ownership agreement with the Swiss-based non-profit football body.

The World Cup is not FIFA's to sell.

— UEFAUEFA issued a statement criticizing the proposed sale of World Cup stakes.

Concerns extend beyond UEFA, with continental football bodies in Asia and CONCACAF also expressing deep reservations. CONCACAF specifically cited a "lack of due process" in a statement, highlighting worries about the secrecy and rushed nature of the private equity plan. Infantino, in a letter to members, described the opportunity as "game-changing" and a "singular and unique financing opportunity."

We are deeply concerned about the lack of due process.

— CONCACAFCONCACAF expressed its concerns regarding the handling of the FIFA investment plan.
DistantNews Editorial

Originally published by El Universal in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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