UEFA accused FIFA president Gianni Infantino of “crossing a line that football’s governing institutions should never cross” after reports emerged that he is drawing up plans to sell stakes in the World Cup sold to private investors.
According to a report from The Times, the scheme would see a company put together to oversee FIFA’s top competitions in the men’s and women’s games, including the World Cup and the Club World Cup. The plan could see Infantino earn tens of millions and raise the possibility of the World Cup and Club World Cup being held more often than every four years.
Under the scheme, FIFA’s 211 member associations would receive a stake that they could either keep or sell to generate income. In addition, it is claimed that Infantino, set to be re-elected unopposed until 2031, would be positioned to become commissioner of the company after his final term as president comes to a close.
A majority stake in the company would be owned by FIFA, with private investors taking on around 20 to 30 per cent and the member nations each possessing a small stake. The plan is reported to have already been discussed among senior FIFA officials and potential stakeholders.
UEFA slams Infantino plans
UEFA, European football’s governing body, has been hugely critical of Infantino in recent times. It previously accused him of “crossing a red line” in coming to the “incomprehensible and unjustifiable” to suspend United States striker Folarin Balogun’s ban for their World Cup last-16 tie with Belgium following apparent pressure from US president Donald Trump.
And it did not hold back in criticising him again on Tuesday.
A statement from UEFA read: “This crosses a line that football’s governing institutions should never cross. 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 soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA’s to sell.”
Plans raise possibility of further World Cup expansion
The idea of giving shares to member associations is viewed as a method of ensuring the plans receive approval from the FIFA congress and council, as for smaller nations the shares would be much more valuable than their annual revenue.
Persons close to the current US presidential administration are reported to have been consulted regarding the scheme, with Joshua Kushner, brother of Donald Trump’s son-in-law Jared, regarded as a potential investor alongside bank JP Morgan.
FIFA’s expected revenue for the cycle spanning 2022-26 is anticipated to be $15billion, with much of that stemming from the sale of TV rights for the World Cup as well as funds from sponsorship and ticket and hospitality sales.
After expanding the World Cup from 32 teams to the 48 that contested this year’s tournament, Infantino said this month that a proposal from South America to expand to 64 teams would be looked at. Given the huge amounts of income generated from this year’s competition, private investors would clearly view the World Cup as attractive due to the possibility of expansion or staging the tournament more regularly.
However, one of the biggest winners from the plan coming to fruition would be Infantino. As commissioner or CEO of the new company, he would be expected to command an annual salary akin to that of NFL commissioner Roger Goodell, who earns around $64m a year. Infantino’s current approximate salary is $6m.
