International Football Federation (FIFA) has announced plans to establish a new entity, 'FIFA Forward Enterprise' for the commercial operations of the World Cup and Club World Cup, along with plans to sell up to 21% stakes. However, this plan has sparked strong opposition from global football federations.
According to The Independent's report on October 30 (Korean time), North American Central American Football Confederation (CONCACAF) and Asian Football Confederation (AFC) were shocked by FIFA President Gianni Infantino's World Cup stake sale proposal. This plan aims to raise $42 billion (approximately 6 trillion won) by establishing a new entity, FFE, which will take charge of the commercial operations of FIFA.
For this plan to become reality, it requires the approval of over half of the 211 member associations and the FIFA Council. However, global football federations are strongly opposing this proposal. CONCACAF expressed deep concern that no proper legal procedures were followed, while AFC also expressed disappointment that sufficient information was not provided for members to evaluate.
The European Football Union (UEFA) is the strongest opponent of the plan. UEFA firmly rejected the proposal to transfer stakes in World Cup and other FIFA events to private investors. If this proposal is not withdrawn, UEFA declared it would boycott all FIFA tournaments.
On the other hand, the African Football Confederation (CAF) only confirmed its participation in the negotiation process but recommended member associations to review the proposal directly. This has led to a global debate on the privatization of the World Cup.
