UEFA have hit out at a leaked FIFA plan to sell stakes in the World Cup in a move that could make its president Gianni Infantino millions.
News broke in The Times on Tuesday afternoon that FIFA boss Infantino was considering selling parts of the tournament to private investors and forming a new company in a deal that could be worth around £15billion.
The report added that Infantino could become the commissioner of that company once his role at FIFA ends in 2031, a highly lucrative position that estimates suggest could pay him more than $50million-a-year.
The bank JPMorgan is said to be handling the process and the Donald Trump administration is understood to have been consulted.
The proposal has already received widespread criticism from across football, with one source telling The Times it would be a ‘nuclear bomb‘ for the sport and another arguing it would ‘potentially be much worse than the European Super League‘.
It is understood the English FA were completely unaware of the proposal.
And UEFA, which has been critical of FIFA and Infantino’s actions in recent times, hit out at the plans.
FIFA are reportedly planning to sell stakes in the World Cup in a hugely contentious move
UEFA launched a strongly worded statement slamming plans that ‘crossed a line’ (pictured – UEFA President Aleksander Ceferin)
‘This crosses a line that football’s governing institutions should never cross,’ they said in a statement. ‘UEFA takes it extremely seriously. So should every National Football Association.
‘So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
‘The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA’s to sell.’
If the move was to go ahead, the global football calendar would likely be affected.
For example, the Men’s and Women’s World Cup may be expanded or held more regularly than every four years, while the Club World Cup could face similar changes.
As part of the proposal, all 211 member associations would have stakes that would make up 20 per cent of the total company and be worth around $20million (£15million) each.
That is a larger figure than many of their annual revenues, and they would be given the option to sell them to raise funds.
FIFA would retain a majority stake in the new entity and private investors would be able to take on minority stakes.
Joshua Kushner, the brother of Donald Trump’s son-in-law Jared, was reported to be one of the potential investors
FIFA are a not-for-profit organisation and enjoy tax-free status at their HQ in Switzerland.
For the most recent cycle of 2022-2026, their revenue is expected to be around $15billion (£11.3billion) – much of which came from this summer’s World Cup – meaning this would provide a lucrative opportunity for individuals to be involved in.
The Times added that the blueprint for the potential selling of stakes has been discussed among senior FIFA figures and potential investors, which could include Joshua Kushner, the brother of Trump’s son-in-law Jared – and they have signed non-disclosure agreements.
Some of those potential investors are understood to have even spoken internally about ‘buying FIFA’.
Infantino’s proposed new role could be extremely lucrative. Figures close to the plan are said to see it on a par with the NFL, whose commissioner Roger Goodell earns about $64million a year.
The reports come at a time when Infantino is already under fire for a variety of reasons following the World Cup.
This includes the US visa restrictions that affected supporters and officials from many countries, the extremely high prices of tickets and Infantino’s links with Trump, which came to a head after Folarin Balogun’s red card was suspended following a phone call by the US President to the Swiss administrator.
When contacted for comment, FIFA confirmed plans to launch a new body called FIFA Forward Enterprise, which they described as a ‘controlled subsidiary consolidating FIFA’s commercial and event operations’.
They added that ‘FIFA would retain sole control of FFE and exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions,’ and claimed the move would increase the funding available to all 211 member associations.
The Daily Mail Sport also contacted the White House for comment.
