Sepp Blatter has warned that FIFA will lose its soul if it carries out a controversial plan to sell stakes in the FIFA World Cup to private investors.
There was outrage across world football afterwards FIFA confirmed these plans Tuesday.
Under the scheme, a company, FIFA Forward Enterprise (FFE), will be established to oversee FIFA’s most important competitions in men’s and women’s games, including the World Cup and Club World Cup. The plan could see FIFA president Gianni Infantino earn tens of millions and increase the possibility of the World Cup and Club World Cup being held more often than every four years.
FIFA’s 211 member associations will receive a stake that they can keep or sell to generate income. In addition, it is claimed that Infantino, who is set to be re-elected unopposed until 2031, will be in a position to become a company commissioner after the end of his final term as president. He is expected to earn a salary of $64 million as commissioner.
The majority stake in the company will be owned by FIFA, with private investors getting around 20 to 30 percent, and each member state holding a small stake. Joshua Kushner — brother of Donald Trump’s son-in-law Jared — is the proposed lead investor.
Infantino then wrote to all 211 member associations, giving them an additional incentive to support the plan.
He told members they would receive $40m (£30m) if they backed the plan, adding that £20m would be immediately available to them on January 1 next year.
However, Infantino has given those members a deadline of September 19 to accept the one-off offer.
The European Football Association (UEFA) strongly criticized these plans, saying that they crossed “a line that football’s governing institutions should never cross.”
Former FIFA president Blatter, who resigned in 2015 amid a corruption investigation and was subsequently banned for eight years by FIFA’s ethics committee, joined the chorus of dissenting voices.
“Football does not belong to any individual or institution. It belongs to the people,” Blatter told Reuters.
“If FIFA is transformed into a profit-oriented corporate structure, it will lose its soul.”
Blatter has criticized his successor on numerous occasions, criticizing the decision to expand the World Cup to 48 teams, awarding the 2034 tournament to Saudi Arabia, and suspending American striker Folarin Balogun from the round of 16 match with Belgium in this year’s competition after clear influence from US President Donald Trump.
Blatter added: “The FIFA World Cup is not a commercial asset owned by a handful of executives.” “It is part of the cultural heritage of world football. FIFA is the custodian of the World Cup, not its owner. There is a fundamental difference.
“The beneficiaries should be the game itself – from grassroots football to the highest international level – and not outside investors seeking returns.”
