LONDON, July 31 — Fifa will push ahead with plans to bring private investment into the World Cup and other tournaments despite a fierce backlash led by European football body Uefa.
Fifa said its consultation process would continue after its proposal to create a US$20 billion (RM81.8 billion) subsidiary to manage commercial and event operations triggered criticism from regional football bodies, news agency Reuters reported today.
Under the plan, the Fifa Forward Enterprise would allow outside investors to take minority stakes of up to 20 per cent.
“Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA (Member Association) has the ability to express its vote based on facts,” Fifa said in a statement.
Yesterday, Uefa accused Fifa of putting football’s “soul” up for sale and said it, along with its 55 member nations, would boycott Fifa tournaments if the proposal remained.
Fifa pushed back against the criticism, saying the plan was not about selling control of the sport.
“Nobody is selling football. This is not something Fifa would ever entertain,” it said.
“Everyone has the right to express their opposition and to seek further clarification but no single entity can claim to represent all 211 MAs around the world,” Fifa added.
“Each MA should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of Fifa.”
