'Nobody is selling football': FIFA issues clarification on investment plan

Zurich [Switzerland], July 31 (HBTV): FIFA has issued a clarification over plans to sell stakes in its competitions to private investors, saying it intends to continue the consultation process.

The body, which oversees world football, said in its clarification on the proposed establishment of the FIFA Forward Enterprise (FFE) on Friday that it would 'never entertain' the idea of selling football to private parties. It said the initiative seeks to ensure meaningful ownership of commercial opportunities in the sport for all member nations, without compromising 'the spirit or the governance of FIFA or football itself'.

FIFA had on Tuesday announced plans to launch the FIFA Forward Enterprise to bring together the sale of FIFA's commercial rights, including broadcasting, sponsorship, ticketing and licensing, with the operational delivery of its tournaments. Under the proposal, FIFA would raise up to USD 4.2 billion (GBP 3.1 billion) through external investors by selling minority, non-controlling stakes in FFE, which FIFA says would be valued at around USD 20 billion (GBP 15 billion).

The move generated considerable concern and anger within the football fraternity, particularly from UEFA, which felt that the sport, especially its showpiece event, the FIFA World Cup, was being put up for sale. UEFA, the governing body of European football, on Thursday also said its member associations had unanimously voted to boycott the FIFA World Cup and all other FIFA competitions in protest against FIFA's plan to sell stakes in a subsidiary that would manage the global governing body's tournaments.

CONCACAF, the governing body for football in North America, Central America and the Caribbean, also said its members had raised 'deep concerns' over the proposal, citing a lack of due process, an unusually short consultation period and the absence of review or approval by FIFA's relevant governance bodies.

Responding to the criticism from the football world, FIFA Media's official X handle posted a clarification, saying, 'We have heard the feedback provided by the respective confederations in relation to the proposed establishment of FIFA Forward Enterprise (FFE) and would like to address the issues that have surfaced since the initial media reporting on Tuesday.'

FIFA, headed by President Gianni Infantino, said it respected the feedback and concerns aired in public and reaffirmed its 'commitment to an open and democratic consultation'.

The world's football governing body said its planned consultation process had been 'disrupted by incorrect media reports' and that it would proceed with the process, allowing each member association to vote on the plan based on facts. FIFA also said that 'the spirit or the governance of FIFA and football' would not be compromised.

'Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA has the ability to express its vote based on facts.

'FFE has been proposed solely to ensure that all FIFA Member Associations (MAs) have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, and that this does not come at the cost of either the spirit or the governance of FIFA or football itself. Nobody is selling football. This is not something FIFA would ever entertain,' said FIFA.

'Everyone has the right to express their opposition and to seek further clarification, but no single entity can claim to represent all 211 MAs around the world. Each MA should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of FIFA,' the statement continued.

FIFA said that under its proposal, the newly formed body would be owned and controlled by FIFA, the commercial value would be shared among all members, and funding for each member association would be increased.

As per the proposal:

• FFE would move FIFA's commercial and operational event delivery activities into a subsidiary organisation that FIFA would own and control permanently.

• The commercial value created would be shared among all 211 MAs, enabling each MA to make meaningful investments in football in their respective countries.

• Under the proposal, each MA would receive USD 20 million in FIFA Forward Development funding over the next four years (2027-2030), irrespective of its individual support. This increased funding would come from the additional revenues generated by FFE through the more effective management of FIFA's commercial operations, for the benefit of all MAs.

It also pointed out that the 'FIFA Fast Forward Programme', a one-off development fund providing an additional USD 20 million per member nation, would be fully voluntary for all members if the FFE proposal proceeds and 'would be financed by external investment without ceding control or altering FIFA's governance structure in any way'.

'Without the support of the majority of MAs, FIFA's commercial activities would remain unchanged. FFE would not be established,' it added.

In a concluding note, FIFA said, 'These components represent the starting point of the consultation process and are open for discussion as part of that process. This can include approval, rejection or amendment in their entirety or individually.'

'These principles underpin the FFE proposal: unprecedented development funding, truly global ownership of the commercial opportunities of our sport, and full self-determination through a democratic process for all MAs,' it concluded. (ANI)