EmailPrintOpen Extended ReactionsUEFA has rejected a FIFA plan to sell stakes in the World Cup to private investors as a "line that football's governing institutions should never cross" and that the World Cup is "not FIFA's to sell."FIFA president Gianni Infantino on Tuesday unveiled a proposal to create a $20 billion company running the World Cup with private investors including the Kushner family.Infantino's plans to form a new entity called the "FIFA Forward Enterprise (FFE)" running competitions like the World Cup and Club World Cup were first reported by The Times of London and the Financial Times.FIFA said in a statement that FFE would raise up to $4.2 billion later this year to help fund development programs "based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests."FIFA is working with J.P. Morgan while investors would include Thrive Eternal launched by Joshua Kushner, whose brother Jared Kushner is a son-in-law of U.S. President Donald Trump.The men's World Cup that finished this month only deepened the political and personal ties between Trump and Infantino, and fueled concerns about those ties including from UEFA.FIFA said that FFE would be FIFA-owned and would consolidate FIFA's commercial and event operations.Should the proposal progress, it could lead to the World Cup being overseen by a company outside of FIFA -- football's non-profit governing body.FIFA and Infantino would face fierce opposition from UEFA, however, with the European governing body issuing a statement against the reported plan."This crosses a line that football's governing institutions should never cross," the statement said. "UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game."The soul and governance of football are not assets to trade -- especially with zero transparency as to who gains financially."None of us are the owners of football. It is not FIFA's to sell."FIFA president Infantino, 56, is due to stand for re-election next year.If the Swiss-Italian wins, he would remain in post until 2031 when FIFA statutes would require him to step down due to term limits.The Times report suggests that Infantino has been lined up to run the company as a commissioner once his FIFA term expires.FIFA is currently a Swiss-based not-for-profit association of its 211 national member federations worldwide.Those 211 members must approve any plan and would get the chance "to access up to $20 million in one-off capital," FIFA said."This is about the democratization of football worldwide," Infantino said in a FIFA statement.There was no timetable suggested Tuesday for debate and decisions by FIFA, its ruling council chaired by Infantino, and the 211 members.FIFA is scheduled to hold an online congress on Nov. 23 to confirm hosts of the Women's World Cup editions in 2031 and 2035.In 2018, Infantino proposed a secretive $25 billion offer over 12 years with SoftBank of Japan to create new global competitions, including an expanded men's Club World Cup, seemingly backed by Saudi Arabian money.That ultimately failed after meeting fierce resistance from UEFA, which saw threats to its prize assets: the Champions League and the European Championship.Infantino still built closer ties to Saudi soccer and the kingdom's Crown Prince Mohammed Bin Salman. Saudi Arabia will host the 2034 World Cup and largely funded the revamped men's Club World Cup hosted in the U.S. last year.Information from The Associated Press was used in this report.
