Gianni Infantino offers $40m incentive to FIFA member associations to approve his plan to sell World Cup stakes

0
Infantino has written to FIFA's 211 member associations urging them to back a proposal to create a new commercial structure for FIFA competitions. The Times first reported the news of the letter outlining the offer to member federations.

The plan would establish a $20 billion FIFA subsidiary company, with 20 per cent owned by private investors, to manage tournaments including the World Cup and Club World Cup.

Member associations have until September 19 to approve the proposal. If accepted, FIFA says a $10bn funding package will be available from January 1, 2027, allowing each association to access up to $40m. If rejected, FIFA will proceed with its previously announced $2.7bn expansion of the Forward development programme.

The proposal, backed by Thrive Capital, has already triggered criticism from several football governing bodies over the process behind the plans. Thrive Capital was founded by Joshua Kushner. Joshua is the brother of Jared Kushner, the son-in-law of United States President Donald Trump.

Infantino outlined the stark financial contrast between accepting and rejecting his proposal in a letter to member associations, which was seen by The Associated Press. He stressed that sticking with the current model would yield only a fraction of the proposed investment.

"It is my duty and responsibility as FIFA president to present such game-changing opportunities to you, our members," Infantino wrote. "Should you wish to proceed, this $10billion package will become available as of January 1, 2027, ushering in the next phase of our journey together.

"Should you wish to retain the status quo and reject this proposal, we still have our planned expansion of the Forward programme of $2.7billion as previously presented."

The proposal has sparked an immediate backlash across world football. UEFA has criticised the lack of consultation and governance surrounding the plans, with ESPN reporting that Europe's governing body is considering its options, including a potential World Cup boycott.

The English Football Association and Concacaf have also expressed concern. In a statement, the FA said: "We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached. Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved. When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear, and comment further."

Click here to read article

Related Articles