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FIFA defended its proposed World Cup private equity venture early Friday and said that «nobody is selling football» after broad criticism of the plan across international soccer.
July 31 : FIFA said on Friday it would push ahead with consultations on a plan to bring private investment into the World Cup and its other tournaments, after Europe's football federation threatened a boycott and other regional confederations issued stinging rebukes of the plan.
July 31 : FIFA said on Friday it would move forward with its consultation process to bring private investment into the World Cup and its other tournaments in defiance of a fierce UEFA-led backlash against the proposal.
Fifa’s plans to sell off stakes in a World Cup company to private investors appear in tatters after European nations pledged to boycott all its competitions until the project is scrapped.
UEFA will boycott all FIFA competitions including the World Cup after an emergency meeting on Thursday resolved to «unequivocally reject» FIFA president Gianni Infantino's plan to raise $20 billion of outside investment with a share sell-off to a private equity group.
July 29 : FIFA plans to create a $20 billion subsidiary to run the World Cup and its other events, offering stakes of up to 20 per cent in FIFA Forward Enterprise to external investors, in a heavily criticised proposal by president Gianni Infantino that would provide member associations with a dramatic increase in funding.
July 29 : FIFA's proposal to sell stakes in a $20 billion commercial subsidiary has drawn strong criticism from soccer's regional confederations, which said they were blindsided by the world governing body's plan to bring private investors into the sport.
July 29 : FIFA's bombshell proposal to sell stakes in a $20 billion commercial subsidiary has drawn strong criticism from soccer's regional confederations, which said they were blindsided by the world governing body's plan to bring private investors into the game.