FIFA has sparked widespread criticism after unveiling plans to sell a stake in the commercial rights to its major tournaments, including the men’s and women’s World Cups and the Club World Cup, through a new venture valued at around $20 billion.
The governing body said the initiative, developed with investment bank JP Morgan, would generate billions of dollars to increase funding for its 211 member associations. FIFA insists it would retain control of football’s governance while using the additional revenue to invest back into the sport.
However, the proposal has drawn fierce opposition from UEFA, which accused FIFA of “selling the soul of football” and is reportedly considering legal action. European clubs and politicians also criticised the plan, warning that private investors could eventually influence decisions over the sport’s biggest competitions, including how often the World Cup is held and where it is staged.
FIFA President Gianni Infantino defended the proposal, arguing it would unlock football’s commercial potential while delivering greater financial support to national associations worldwide. The plan still requires approval from FIFA’s member associations.
via The Guardian
