ANKARA, Turkiye: FIFA President, Gianni Infantino, on Wednesday (July 29) defended a controversial proposal to bring private investors into a new commercial subsidiary controlling the organisation’s competitions and business operations, calling it a “golden opportunity” to accelerate football development worldwide, Anadolu Ajansi reported.
The plan has prompted widespread criticism since it was revealed Tuesday, with opponents warning that it could give private investors influence over competitions, including the World Cup.
“FIFA Forward Enterprise, or FFE, is actually a proposal, an offer. It’s part of a democratic process, a consultation process, and, above all, it is an opportunity but not an obligation,” Infantino said in a video released on Wednesday evening.
“It is a golden opportunity to turbocharge the development of the game globally. But again, it is just an offer, not an obligation.”
Under the proposal, FIFA Forward Enterprise would consolidate FIFA’s commercial rights, including broadcasting, sponsorship, ticketing and licensing, with the organisation of its tournaments.
FIFA plans to raise up to USD4.2 billion by selling minority, non-controlling interests in the subsidiary, which has been given an initial valuation of USD20 billion.
The governing body says it would retain control over FFE and exclusive authority over football regulations, competitions and the international match calendar.
Infantino said the proposal was intended to unlock “previously uncaptured commercial value” and would require the support of a majority of FIFA’s 211 member associations as well as approval from the FIFA Council.
“Capturing that value requires additional expertise, additional insight, distinct from governing and developing the sport,” he said.
“It would simply commercialise and organise all FIFA-owned competitions, along with sponsorship, broadcast, licensing and new ventures, for the benefit of FIFA’s 211 member associations.”
FIFA says the additional investment could increase development funding for each member association and finance stadiums, national training centres, grassroots programs and women’s football.
However, the proposal has drawn fierce criticism over transparency, governance and the potential commercialisation of the World Cup.
UEFA said football’s “soul and governance” were not assets to be traded, declaring: “It is not FIFA’s to sell.”
Infantino rejected suggestions that the investment model would fundamentally alter the sport, insisting that supporters would benefit from increased funding in their countries.
“Fans from everywhere in the world would gain immeasurably from this game-changing potential because it will transform football in their countries,” he said. – BERNAMA-ANADOLU
