NewzPARIS, France (AFP) — FIFA President Gianni Infantino said Wednesday that the proposed launch of a private subsidiary to expoit the commercial benefits of the World Cup was "an opportunity but not an obligation". In a video released amid a furious backlash to FIFA's controversial plans to sell stakes in FIFA's major competitions, Infantino argued that too little of football's commercial value reached the parts of the game that need it most. World football's governing body had said Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests".
"FIFA Forward Enterprise, or FFE, is actually a proposal, an offer. It's part of a democratic process – a consultation process – and, above all, it is an opportunity but not an obligation," Infantino said in the video. "It is a golden opportunity to turbocharge the development of the game globally.
But again, it is just an offer, not an obligation." Infantino insisted the proposal was centred on unlocking "previously uncaptured commercial value" and was conditional on a democratic vote of FIFA's 211 member associations and approval by the 38-member FIFA council. "Capturing that value requires additional expertise, additional insight, distinct from governing and developing the sport," he said. "It would simply commercialise and organise all FIFA-owned competitions along with sponsorship, broadcast, licensing and new ventures for the benefit of FIFA's 211 member associations." Infantino said the game would not change and the fans would be happier.
"Fans from everywhere in the world would gain immeasurably from this game-changing potential because it will transform football in their countries," he said. The Times — which broke the original story on Tuesday — reported Infantino, 56, stood to profit from the scheme by becoming commissioner of the FFE after his expected next term expires in 2031. FIFA denied that this had been discussed.
The article also said discussion had started with financial advisors and potential investors. FA resists immediate criticism of privatisation pushMore information requested to ‘properly assess’ implications Football Australia has resisted immediate criticism of Fifa’s plan to seek private investment despite an international outcry, instead calling for more information about the controversial proposal.Football’s world governing body announced plans this week to sell a stake in the commercial rights to its tournaments, including the World Cup, to private investors, in a move led by the Fifa president, Gianni Infantino. Fifa president Gianni Infantino championed the proposal to sell a World Cup operations stake to 'turbocharge' global football development.
(EPA Images pic)SYDNEY: Football Australia on Thursday said they had asked for more details from Fifa on the proposal to sell a stake in the business operations of the World Cup so they can better understand the implications.The world governing body announced on Tuesday a plan to create a semi-private subsidiary which would sell part of its business operations in the World Cup and other competitions, hoping to raise US$4.2 billion.It sparked a furious backlash, but Football Australia said they had been contacted by but needed more information before formulating a response."Football Australia can confirm it has received correspondence from Fifa regarding its latest commercial proposal," said a statement."As this is the first time we have been made aware of the initiative, we are now working to understand the proposal in full."We have requested further information from Fifa to properly assess the strategic, commercial, and governance implications of such a significant step."We will only be able to form a position after receiving this information and engaging in further dialogue with our peer member associations and our confederation."The plan would have to be approved by Fifa's 38-member council and the majority of its 211 member associations.Fifa president Gianni Infantino championed the proposal as "a golden opportunity to turbocharge the development of the game globally".But critics, led by Uefa, said it "crosses a line" and the "soul and governance of football are not assets to trade". FIFA President Gianni Infantino insisted member associations would not be forced to back the proposed commercial spin-off, as criticism from UEFA, CONCACAF, the Asian Football Confederation and European officials intensified. FIFA president Gianni Infantino has written to all 211 member associations, saying they will receive $40m (£30m) if they back his controversial plan to sell off stakes in its major competitions.
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