FIFA President Gianni Infantino withdrew the plan to partially…
FIFA President Gianni Infantino withdrew the plan to partially privatize the World Cup by selling stakes in a new commercial subsidiary, FIFA Forward Enterprise, following strong opposition from football confederations in Europe, Asia, and North America, including threats of boycott and internal resignations.
Consensus
- FIFA President Gianni Infantino announced the withdrawal of the plan to partially privatize the FIFA World Cup.
- The decision followed protests and strong opposition from football confederations of Europe, Asia, and North America.
- The proposed plan involved creating a commercial subsidiary, FIFA Forward Enterprise (FFE), to manage World Cup and other tournaments.
- The plan included selling a portion of the commercial rights to private investors.
- The project was criticized for causing internal divisions within FIFA and for potentially allowing private investors to gain control over major tournaments.
- FIFA stated that the project had caused such significant disagreement that it no longer aligned with the organization's goals.
Points of divergence
- The planned company was valued at $20 billion, and selling a stake could bring FIFA up to $4.2 billion. — novaya_eu
- Each national association could receive up to $40 million in the next financial cycle if the project was approved. — novaya_eu
- The project involved selling up to 21% of FIFA's commercial structure, with a company valuation of $20 billion. — vedomosti
- Each national association could receive up to $20 million for development if the project was supported. — vedomosti
- The group of initial investors was to be led by Thrive Eternal, a firm founded by Joshua Kushner, brother of Jared Kushner, son-in-law of U.S. President Donald Trump. — novaya_eu
- Thrive Eternal was established just three months prior, in late April, under Thrive Capital Management. — tg_bbcrussian
- Thrive Capital, the parent company of the investor group, expressed doubts about the deal's feasibility. — vedomosti
- The senior advisor to Infantino, Carlos Cordeiro, resigned in protest, and the chief operating officer Kevin Lammers criticized Infantino for 'gross disrespect' in pushing the project without consultation. — vedomosti
- UEFA demanded legally binding guarantees that private owners would never be allowed to manage tournaments again. — novaya_eu
Coverage (6 sources)
- FIFA has abandoned the idea of partially privatizing the World Cup — Дождь (Telegram)
- FIFA abandoned partial privatization of World Cups after boycott threat. Rights were to be sold to Trump family — Новая газета Европа
- FIFA President Gianni Infantino backs down: plan for partial privatization of World Football Championships withdrawn. — BBC News Русская служба
- Infantino withdrew FWC shares sale project due to scandal — Ведомости
- ❗️Protests Worked: Infantino Withdraws His Plan for Partial Privatization of World Football Championships — BBC News Русская служба
- Plan Infantino causes powerful backlash: Asia protests, advisor leaves, FIFA CEO threatens to quit — BBC News Русская служба
Key entities
- FIFA
- Gianni Infantino
- Asia
- Europe
- North America
- UEFA
- Donald Trump
- The Guardian
- BBC
- FIFA Forward Enterprise
- European Union of Football Associations
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