Categories: NEWS

Fifa says ‘nobody selling football’ as in continues with controversial World Cup investment plan


Fifa wants to create a commercial subsidiary to run its main events, including its World Cups, and external investors will be able to buy stakes in it.

It said it would “invite third parties to make minority, non-controlling investments” in a new subsidiary – Fifa Forward Enterprise (FFE).

On Friday, Fifa said FFE had been proposed “to ensure all Fifa member associations have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries”.

“This does not come at the cost of either the spirit or the governance of Fifa or football itself,” it added.

However, Uefa has accused Fifa of using football “to enrich themselves and their friends”.

Infantino previously wrote to Fifa members saying they will receive $40m (£30m) if they back his controversial proposal. He set a deadline of 19 September for federations to accept his plans if they want to access an initial $20m (£15m).

If approval is granted, Fifa says Thrive Eternal is expected to lead the proposed investor group for FFE.

Thrive is an American venture capital firm founded by Joshua Kushner – the brother of US President Donald Trump’s son-in-law Jared.



Source link

Mainedigitalnews.com

Share
Published by
Mainedigitalnews.com

Recent Posts

I Don't Know How She Survives Tech Week with Five Jobs, Two Kids, and Only One Nap

By Artist Caregiver. This month’s artist caregiver misses Shabbat dinner with her husband and children,…

9 hours ago

Executing the Rangers plan matters more than a single playoff appearance

The New York Rangers want to win. After two straight horrendous years, Chris Drury has…

9 hours ago

South Korea Bill Targets Unregistered Crypto Firms

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech…

9 hours ago

The 19th-Century novel that challenged our fear of the ‘monstrous’ whale

The US east coastal town of Nantucket, Massachusetts, where Moby Dick begins, became the whaling…

9 hours ago

Why Aren’t Modernist Bridges Awful?

The public dislikes modern architecture but, generally speaking, they do not dislike modern bridges. Lists…

9 hours ago

How to Convert Images to PDF Without Losing Quality or Clarity

A phone full of photographed receipts and old paper documents is not the same as…

9 hours ago