FIFA: commercial company sparks UEFA outrage

As announced a few hours ago, FIFA president Gianni Infantino is considering creating a commercial company and then selling shares to an investment fund.

According to The Financial Times this Tuesday, Gianni Infantino wants to set up a commercial company to manage the rights for both the men's and women's World Cup. The Club World Cup would also be included in this plan. The FIFA boss is in talks with several potential investors to sell stakes in this future company.

FIFA would retain control and could sell between 20 and 30% of the capital, with the entire company valued at €17.3 billion! That means a possible deal worth €3.5 billion. To secure a partnership with FIFA, the investment fund Thrive Eternal is emerging as the frontrunner.

UEFA outraged

This idea has been condemned by UEFA. The European football governing body voiced its outrage in an official statement released immediately after the news broke.

"This crosses a line that football’s governing bodies should never cross. UEFA takes this situation extremely seriously. The same goes for all national football federations, as well as every stakeholder: leagues, clubs, players, fans, governments, and everyone who cares about the future of this sport. The soul and governance of football are not assets to be traded, especially when there is a total lack of transparency regarding the financial beneficiaries. None of us owns football. It is not FIFA’s to sell," the statement read.

Joshua SOSSOU

Editorfr, en, ar

As a sports fan, and particularly a football fan, I've been putting my writing talent to good use for a number of years now to promote African talent and the continent's football in general. On Foot Africa, enjoy reading each of my lines.

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