CONCACAF Joins UEFA in Opposing FIFA’s Plan to Sell 20% Stake in $20 Billion Subsidiary
CONCACAF has joined UEFA in opposing FIFA’s proposal to place World Cup and tournament operations into a commercial subsidiary valued at $20 billion. The soccer governing body intends to raise $4.2 billion by selling a stake of more than 20% to outside investors.
European football nations are considering a tournament boycott if the sale proceeds, per Sky News. Thrive Eternal, managed by Josh Kushner, is the lead bidder for the new entity, named FIFA Forward Enterprise. FIFA President Gianni Infantino stated the subsidiary would distribute funding evenly across all member associations, while the organization denied reports he would take a paid commissioner role.
From the sources (11 posts)
@ftFT Exclusive: Fifa is planning to sell a significant minority stake in a new commercial entity valued at about $20bn, as it seeks to cash in on the success of this summer’s World Cup, according to people familiar with the matter. https://t.
@ftFifa plans stake sale in new $20bn commercial vehicle
@telefootball🚨 Gianni Infantino, the president of Fifa, is reportedly considering selling stakes in the World Cup to private investors in what has been labelled by insiders as a “nuclear bomb” for football @Tom_Morgs has the details ⤵️
@moreperfectusFIFA president Gianni Infantino is now planning to sell stakes in the World Cup to private investors. Critics say the scheme could ruin the sport. It could also potentially earn him tens of millions of dollars, per @martynziegler.
@sophiacai99FIFA becomes even more entwined with the Trump family. Jared Kushner’s brother Joshua Kushner (Thrive Capital) is expected to lead FIFA’s proposed investor group, per @martynziegler
@marionawfalFIFA boss Gianni Infantino is trying to sell a chunk of the World Cup’s commercial rights to private investors for around £15B He’s creating a new company to own the TV deals, sponsorships and all the money-making bits, then selling a mino
@ajenglishRT @AJE_Sport: FIFA has unveiled plans to create a $20bn subsidiary to run the World Cup and other tournaments, with minority stakes to out…
@afpFIFA says it hopes to sell $4.2bn stake in its tournaments. FIFA Forward Enterprise would be created with private investors and some media reports say FIFA president Infantino, stands to profit by becoming commissioner of the FFE. FIFA den
@clashreportEuropean football nations are discussing boycotting the FIFA World Cup if Gianni Infantino pushes ahead with plans to sell off part of FIFA to private investors. FIFA has confirmed it wants to launch a $20 billion subsidiary called FIFA Fo
@osint613European football nations are weighing a World Cup boycott if FIFA proceeds with selling a stake to private investors, per Sky News. The plan: raise $4.2 billion by selling 20%-plus of a new $20 billion subsidiary, FIFA Forward Enterprise.
@afp⚽ CONCACAF followed UEFA on Wednesday by criticising FIFA's controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a semi-private subsidiary. ➡️