On Tuesday, FIFA announced proposals to establish a commercial subsidiary that would organize various tournaments, including the World Cup, which sparked a huge wave of criticism.
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According to information published by The Times newspaper on Wednesday, FIFA President Gianni Infantino informed members that if they join this plan, a $10 billion funding package will be provided.
In his letter, seen by the British newspaper, G. Infantino stated that the decision depends on individual federations.
“If you want to proceed, this $10 billion package will be available from January 1, 2027, and will start the next phase of our joint journey,” he wrote. “If you want to maintain the current situation and reject this proposal, we will still have the previously presented planned expansion of the ‘Forward’ program (development funds), valued at $2.7 billion. In total, in the upcoming cycle starting January 1, 2027, under this proposal, each member will have the opportunity to receive up to $40 million.”
The Times reported that sources opposing this plan called it “pure bribery.”
As previously reported, FIFA indicated it intends to retain a controlling stake in the company “FIFA Forward Enterprise” (FFE), but expects to attract $4.2 billion by the end of this year, “carefully selecting long-term investors who will acquire minority, non-controlling shares.”
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FIFA urgently issued this statement in response to articles in the British newspapers The Times and Financial Times, which appeared after two sources leaked information about this plan.
The Times reported that 56-year-old FIFA President G. Infantino could profit from this plan by becoming the FFE commissioner after his expected next term ends in 2031. FIFA denied that this was discussed.
The article also states that negotiations have already begun with financial advisors and potential investors. Among them is the investment firm Thrive Capital, founded and led by Joshua Kushner, brother of Jared Kushner, son-in-law of U.S. President Donald Trump, as well as a division of the U.S. bank JP Morgan Chase, which tried to finance the failed breakaway European Super League.
According to French Sports Minister Marina Ferrari, UEFA will hold an urgent meeting on Wednesday to discuss the response to FIFA’s controversial plans regarding private investors.
“I know that an urgent meeting of European football institutions will take place on Wednesday. When faced with a project that could fundamentally change the balance of our sport, it is very important that European stakeholders speak with one voice,” M. Ferrari wrote on social media.
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