FIFA Plan to Sell World Cup Shares Angers European Football Body
FIFA, football’s world governing body, has proposed a major plan. It wants to sell part of its most important event, the World Cup, to private investors. This idea has made the European football body, UEFA, very angry.
FIFA announced its plan on Tuesday. It wants to create a new company worth $20 billion. This company would manage the World Cup and other football events. FIFA would keep most of the new company. However, it plans to sell up to 20 percent of shares to outside investors. This could raise $4.2 billion for FIFA.
This plan must be approved by FIFA’s 211 member nations. Reports suggest an investment group could lead this effort. Joshua Kushner, whose brother is related to the US President, may be part of this group.
FIFA President Gianni Infantino explained the reasons for the plan. He said football is the world’s most popular sport. He believes this plan will help more people access the sport. All money earned would be used to grow football around the world. FIFA also said it would still control all football rules and decisions.
UEFA strongly opposes FIFA’s plan. It said this proposal “crosses a line that football’s governing institutions should never cross.” UEFA believes football’s core spirit and its management should not be sold. It asked all national football associations to take the plan seriously. UEFA stated that nobody owns football to sell it.
The United Kingdom’s new Prime Minister, Andy Burnham, also criticized the proposal. He wrote on social media that the World Cup is not just a product. He called it the greatest competition in world sport. Mr. Burnham believes selling part of it means selling out the sport.
This proposal shows a growing disagreement between FIFA and UEFA. FIFA says it wants to help football grow globally with more money. UEFA sees itself as the protector of football’s traditions and governance.
