FIFA has defended its proposed private investment plan, insisting it will continue consultations with member associations despite criticism from European football’s governing body, UEFA.
UEFA had warned it could boycott the FIFA World Cup over the proposal to establish a commercial subsidiary to manage FIFA’s flagship competitions and allow private investors to acquire stakes in the new company.
Responding on Friday, FIFA dismissed suggestions that it intended to sell football’s governing assets, stressing that the consultation process would remain transparent and democratic.
“Nobody is selling football,” FIFA said in a statement.
“This is not something FIFA would ever entertain.”
FIFA defends consultation process
FIFA said every one of its 211 member associations should have the opportunity to examine the proposal before any decision is taken.
The organisation noted that it had received feedback from football confederations, including UEFA and the Confederation of North, Central America and Caribbean Association Football (CONCACAF).
“We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation,” the statement read.
“Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each member association has the ability to express its vote based on facts.”
Investment plan could raise $20bn
According to FIFA, the proposal could generate up to $20 billion through the FIFA Forward Enterprise (FFE) initiative.
If approved, the project could provide each of FIFA’s 211 member associations with a one-off payment ranging from $8 million to $20 million, aimed at supporting football development across the world.
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