The FA have deep concerns over FIFA’s leaked plans to sell stakes in the World Cup.
News broke on Tuesday that FIFA boss Gianni Infantino was considering selling parts of the tournament to private investors and forming a new company in a deal that could be worth around £15billion, which the governing body later confirmed in a hastily-issued statement.
The report added that Infantino could become the commissioner of that company once his role at FIFA ends in 2031, a highly lucrative position that estimates suggest could pay him more than $50million-a-year.
The investment bank JP Morgan is FIFA’s financial advisor on the project while Joshua Kushner’s Thrive Capital is expected to lead the proposed investor group. Kushner is the brother of Donald Trump’s son-in-law Jared. The Trump administration is understood to have been consulted.
FIFA hope to raise more than £3 billion for the venture from a diversified, global investor group. The group is thought to include sovereign wealth funds.
Should their plans be successful, FIFA intend to give each of their 211 member associations a stake in the company – which they can choose to keep or sell – worth £15million each.
The FA have deep concerns over FIFA’s leaked plans to sell stakes in the World Cup
In a statement, an FA spokesperson confirmed they had been left in the dark over the controversial proposals which have sparked outrage amongst the football community.
The statement said: ‘We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached.
‘Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.
‘When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear, and comment further.’
Prime Minister Andy Burnham has also voiced opposition to the proposition.
‘Let me say this very directly,’ Burnham posted on X. ‘Football does not belong to investors. It belongs to the people who fill the stands and who stand on the touchline week in, week out, rain or shine.
‘The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell.
‘Dress the deal up however you like. Once you have sold a piece of it, you have sold out. Football belongs to the fans. It always has, and it always will.’
The plans would see FIFA set up by FIFA Forward Enterprise (FFE), a new company responsible for the ‘operational delivery of FIFA tournaments’ – including both the men’s and women’s World Cup.
FIFA claim their plans would help advance the FIFA Forward development programme, which distributes capital to member associations. The governing body hopes to increase funding from £6m to £15m for the 2027-30 international cycle.
FIFA would need approval from the FIFA Council and majority support from the FIFA Congress (the 211 member associations) to launch the new enterprise.
UEFA have already opposed the plans, while Concacaf and now the FA have raised concerns about the lack of consultation.
There are major concerns over what the proposals could mean for the game, including whether FIFA could increase the frequency of tournaments to create more opportunities for financial backers to see a return on their investment.
The Club World Cup and men’s World Cup are currently held every four years. FIFA have previously explored the possibility of staging both tournaments every two years.
FIFA maintain that they have a duty to control the development of this project, with external investors holding only a minority stake in FFE and having no operational role.
‘Concacaf was only made aware of this matter through media reports and, subsequently, via a media release,’ their statement read on Wednesday morning.
‘We are deeply concerned by the lack of due process.
‘We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place.
‘As leaders within football, we are the custodians of the game. Collectively, FIFA, the Confederations and every Member Association have a responsibility to always act in the best interests of the sport. Every decision we make must be guided by good governance, robust processes and long-term stewardship.
‘This is the framework within which Concacaf operates. We trust that all within the FIFA family will act in the same manner.’
