CONCACAF has become the second confederation to express concern at Gianni Infantino’s plans to sell off parts of FIFA’s major tournaments.
FIFA outlined their intention on Tuesday to create a new commercial subsidiary that would run its main events, including the men’s and women’s World Cup and Club World Cup, and open up investment to external investors.
Football’s world governing body believe it would grow the game by creating greater revenues but critics are concerned it would enable commercial entities to have too great a say over footballing matters as well as increasing the frequency of major tournaments and therefore diluting the quality.
UEFA outlined its opposition yesterday, describing the plans as “crossing a line that football’s governing institutions should never cross,” and CONCACAF followed a similar path on Wednesday.
A statement from the body that oversees Caribbean, North and Central American football said in a statement: “CONCACAF was only made aware of this matter through media reports and, subsequently, via a media release.
“We are deeply concerned by the lack of due process.
“We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place.
“As leaders within football, we are the custodians of the game. Collectively, FIFA, the Confederations and every Member Association have a responsibility to always act in the best interests of the sport. Every decision we make must be guided by good governance, robust processes and long-term stewardship.
“This is the framework within which CONCACAF operates. We trust that all within the FIFA family will act in the same manner.”
US administration consulted over FIFA plan
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.
Persons close to the current US presidential administration are reported to have been consulted regarding the scheme and, following initial reports, FIFA confirmed to The Times that the plan is under consideration, with Joshua Kushner — brother of Donald Trump’s son-in-law Jared — the proposed lead investor. American multinational banking firm JP Morgan has also been floated as a potential investor.
The Football Association echoed CONCACAF’s concern about a lack of due process in a statement this morning that read: “We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached.
“Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.
“When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear and comment further.”
UEFA outraged by FIFA plan
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” decision to suspend United States striker Folarin Balogun’s ban for their World Cup last-16 tie with Belgium following apparent pressure from 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.”
FIFA 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.
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.
