Infantino sets deadline for $20M offer to members in World Cup investor plan

FIFA President Gianni Infantino set a Sept. 19 deadline on Wednesday for the 211 member federations to accept one-off $20 million offers as part of a project to sell stakes in the World Cup to private investors.

The $20 billion FIFA subsidiary, bankrolled by the brother of Jared Kushner, was blasted by international soccer organizations. European soccer body UEFA aims to call its 55 member federations to an emergency online meeting, likely on Thursday.

“But having held discussions with many stakeholders across the game, UEFA knows there is significant and growing opposition to FIFA’s scheme,” the organization said in a statement.

The effort also marks Infantino’s latest effort to align with those in the orbit of U.S. President Donald Trump: by creating the FIFA peace prize, letting Trump intervene in a process that led to United States forward Folarin Balogun playing at the World Cup, and now trying to lock in Joshua Kushner’s investment firm to a 12-year ownership deal with the Switzerland-based not-for-profit soccer body.

Infantino set out the “singular and unique funding opportunity” in a letter detailing why he wants to create the $20 billion FIFA subsidiary — 20% owned by private investors — that would run the soccer body’s competitions and events like World Cups and Club World Cups.

“It is my duty and responsibility as FIFA president to present such game-changing opportunities to you, our members,” Infantino wrote in the letter seen by The Associated Press.

The proposal revealed Tuesday and backed by Joshua Kushner’s investment firm Thrive Capital was met with immediate fury from Infantino’s former colleagues at UEFA, which said the World Cup “is not FIFA’s to sell.”

One option open to European soccer is threaten a boycott of FIFA competitions — a tactic used in 2021 when UEFA-led opposition helped stop Infantino’s plan to play the World Cup every two years instead of four.

FIFA’s private equity plan is the latest ambitious project proposed during Infantino’s 11-year presidency in which he has increasingly seemed to be an executive leader acting without consulting with soccer’s major stakeholders.

Source: africanews.com