FIFA Pushes Forward with Stake Investment Plan Amid Global Boycott Threat

FIFA, which oversees world football, has responded to outrage over a plan to sell stakes in its competitions to private investors by saying it plans to continue the consultation process.

European football’s 55 member associations (MAs) voted on Thursday to boycott World Cups if FIFA proceeded with the proposal. Concacaf, which governs football in North and Central America, also rejected the plan.

“Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA has the ability to express its vote based on facts,” FIFA said in a statement.

“Nobody is selling football,” it insisted. FIFA wants to create a commercial subsidiary to run its main events, including its World Cups, and external investors will be able to buy stakes in it.

The plan requires approval by a vote of FIFA’s 211 members. Infantino needs 106 votes in favour for the proposal to go through. UEFA and Concacaf members combined make up 96 associations who appear set to vote against.

FIFA reaffirmed its commitment to an open and democratic consultation, adding that the FFA has been proposed solely to ensure that all FIFA Member Associations have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, without compromising the spirit or governance of FIFA or football itself.