Zurich: The Confederation of North, Central America and Caribbean Association Football (CONCACAF) and the Asian Football Confederation (AFC) have joined forces to reject FIFA's proposal to sell World Cup stakes to private investors. The two organizations have aligned their stance with the Union of European Football Associations (UEFA), arguing that the proposal does not align with the best interests of the sport.
According to Ghana Web, the AFC has declared its full support for UEFA's position and is even considering boycotting FIFA competitions in protest. The AFC emphasized its solidarity with UEFA and CONCACAF by voicing serious concerns over FIFA's initiative to introduce private investment into its flagship competitions through the establishment of FIFA Forward Enterprise (FFE).
In a public statement, the AFC highlighted the potential ramifications of the proposal, noting that the very discussion of a World Cup boycott should be alarming to all stakeholders in the game. The AFC asserted that football should not be subjected to such external pressures and that the current situation jeopardizes the future of the sport.
Similarly, CONCACAF has publicly dismissed the proposal, throwing its weight behind UEFA and emphasizing the necessity of safeguarding football from outside influences. Both confederations believe that the introduction of private investors into FIFA's decision-making process could undermine the integrity of the sport.
FIFA, on the other hand, is moving forward with plans to create the new commercial entity, FIFA Forward Enterprise (FFE). This new company will manage some of FIFA's most valuable revenue streams, including broadcast rights, sponsorship deals, licensing, ticketing, and hospitality. The proposal includes selling a minority stake of up to 20 percent in FFE to private investors, while FIFA retains majority ownership and control. Valued at approximately $20 billion, this proposed move has sparked widespread debate within the football community.