FIFA Plan To Sell Stakes In World Cup Organization Prompts Major Boycott
GENEVA (AP) — UEFA member federations decided Thursday to boycott all FIFA competitions in protest of Gianni Infantino’s plan to sell World Cup shares to private equity investors.
“UEFA and its national associations will not participate in FIFA competitions,” the European football body said in a statement following an emergency online meeting of 55 members.
“Some things are too important to be sold,” UEFA said in a statement. “The FIFA World Cup belongs to football. It will always remain so. As long as it is the voice of Europe, it will never be for sale.”
The strategy meeting was called to oppose FIFA president Infantino’s offer of $20 million to each of FIFA’s 211 global members, which must be accepted by mid-September.
Infantino’s secret proposal to split his business operations into a new $20 billion subsidiary, 20% owned by private investors, was revealed Tuesday. The main investor will be a New York investment company founded by Joshua Kushner, brother of US President Donald Trump’s son-in-law Jared Kushner.
“This is not only a profound failure of leadership, but also an abdication by FIFA of its duty as the guardian of world football,” said UEFA, where Infantino was a long-time staffer and CEO-like general secretary when he was first elected to head FIFA in 2016.
“The moment external investors acquire ownership rights in FIFA competitions, football changes forever,” UEFA said. “Business returns are becoming a permanent necessity. Investor expectations are becoming a daily pressure.”
Infantino presented the private equity bid as a chance to “turbocharge” the development of football around the world, where the majority of FIFA’s 211 members rely on these funds.
Officials from around 40 UEFA members who spoke at the emergency meeting expressed anger that FIFA was not using some of its multibillion-dollar reserves to fund extra development programmes.
The next scheduled FIFA tournament will take place in Europe; The U20 Women’s World Cup will be hosted by Poland on September 5.
AP football: https://apnews.com/hub/soccer And AP World Cup coverage
