UEFA Slams Fifa with Furious Statement Over Planned World Cup Stake Sale
UEFA has reacted with fury to reports that Fifa president Gianni Infantino is planning to sell stakes in the men's World Cup to investors.
UEFA's statement comes after reports by The Times and Financial Times on Tuesday that Infantino is plotting a scheme to sell stakes in the World Cup to private investors, including Thrive Eternal, a new investment strategy led by Joshua Kushner, the brother of Jared Kushner. According to the reports, Fifa would retain majority control of the World Cup, with the rest being sold partly to each of Fifa's 211 national associations and partly to private investment.
UEFA has taken the reports extremely seriously, calling on every National Football Association to do the same. "This crosses a line that football's governing institutions should never cross," the statement reads. "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 investment would be led by Thrive Eternal, a permanent capital vehicle focused on making a small number of long-term investments in franchises and cultural institutions. Thrive Eternal has already taken a minority stake in Major League Baseball's San Francisco Giants this year.
Gianni Infantino has defended Fifa's handling of the World Cup, despite the controversy surrounding the tournament. In a statement published last week, Infantino praised Fifa for "delivering the best show in the world" and spoke of the World Cup bringing "joy and togetherness."
The move to sell stakes in the World Cup has sparked widespread criticism, with many questioning the motivations behind the plan. "The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially," UEFA's statement reads.
Fifa has not responded to comment on the reports, but the controversy is set to continue with UEFA's statement calling on every National Football Association to take the reports seriously.
Gianni Infantino's presidency of Fifa is set to end in 2031, and it remains to be seen whether he will be involved in the World Cup in any capacity after that. Meanwhile, UEFA's statement has sparked a wider debate about the ownership and governance of football, with many calling for greater transparency and accountability.
The World Cup is one of the most watched and followed sporting events in the world, and the sale of stakes in the tournament could have significant implications for the future of the game. As the controversy continues to unfold, one thing is clear: the ownership and governance of football are under the microscope like never before.
Source: Yahoo Sports