First UEFA, then CONMEBOL, then the AFC and the FA, it seems the entire football world has united against the newly controversial FIFA president Gianni Infantino’s proposal to create a $20 billion commercial subsidiary to manage the World Cup and other tournaments.
However, Greg Maffei, a key architect and commercial adviser to FIFA on this project, has vehemently defended the plan in a recent interview with the Financial Times.
Responding to the widespread indignation and accusations that FIFA is putting the game’s “soul” up for sale, Maffei insisted that the governing body is not “selling the World Cup”.He rejected comparisons to the failed European Super League, stating the FIFA proposal is “the opposite” because it allows the 211 member associations to “decide what they want to do” while ensuring FIFA maintains “majority control forever”.
The plan involves offering a minority stake of up to 20% in the new entity, FIFA Forward Enterprise, aiming to raise $4.2 billion from private investors, with Thrive Eternal expected to lead the investor group.Despite the fierce backlash, FIFA maintains that the generated funds will be reinvested to expand global access to the sport, while critics argue it opens the door to undue influence from private equity.
(More to follow…)