European soccer’s governing body and its North American counterpart have formally dismissed a plan by FIFA chief Gianni Infantino to monetize the World Cup by offering private investors stakes in the tournament.
Rejection fuels boycott threats
Both UEFA and Concacaf issued statements warning that the World Cup cannot be treated as a financial asset and that any attempt to hand it over to external investors would jeopardize the sport’s integrity and the credibility of the competition.
The backlash has sparked a coordinated threat among European federations to withdraw from all FIFA events unless the proposal is withdrawn, a move that would affect a majority of the 211 member associations.
Concacaf, whose members include the United States, Canada and Mexico, echoed the sentiment, emphasizing that the short deadline and lack of review by FIFA’s governance committees leave little room for proper scrutiny.
Infantino’s plan, which is being financed in part by Joshua Kushner, calls for $20 billion to be raised through the sale of FIFA Forward Enterprises, promising each of the 211 associations a $40 million payout if they approve the scheme before a September 19 deadline.
The proposal has also drawn attention to the close ties between Infantino and former U.S. president Donald Trump, who has hosted the FIFA chief at the White House and helped establish a FIFA office in Trump Tower.
Critics argue that the scheme would concentrate power in the hands of a handful of investors while sidelining the traditional development funds that have long supported grassroots projects across the globe.