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Infantino defends FIFA investment plan amid mounting backlash - France 24

Gianni Infantino has defended FIFA's investment strategy, which faces increasing backlash from critics concerned about its implications for the sport. The plan aims to enhance global football development but has sparked significant debate.

FIFA President Gianni Infantino has defended the organization’s controversial plan to launch a private subsidiary aimed at capitalizing on the commercial potential of the World Cup. This comes amid increasing criticism from various football governing bodies, including UEFA, CONCACAF, and the Asian Football Confederation.

Opportunity, Not Obligation

In a video statement, Infantino emphasized that member associations would not be compelled to support the proposed FIFA Forward Enterprise (FFE). He described the initiative as "an opportunity but not an obligation," aimed at ensuring that more of football's commercial revenue reaches the areas of the game that require it the most. FIFA has announced plans to retain a majority share in FFE while seeking to raise $4.2 billion through minority investments.

Financial Incentives and Democratic Process

Reports indicate that Infantino has communicated to FIFA's member associations that each would receive $40 million if they endorse the plan, with a deadline for commitment set for September 19. He reiterated that the FFE proposal is part of a democratic consultation process and is contingent on a vote by FIFA's 211 member associations and subsequent approval by the FIFA council.

Infantino highlighted that the initiative aims to unlock previously untapped commercial value and would enhance the organization of FIFA-owned competitions, including sponsorship and broadcasting rights. He believes this transformation will ultimately benefit fans worldwide, enhancing their experience of the sport.

Despite the backlash, Infantino maintains that the fundamental nature of the game will remain unchanged, asserting that fans would greatly benefit from the potential advancements brought about by this initiative. The proposal has sparked discussions with financial advisors and potential investors, including Thrive Capital, led by Joshua Kushner.

Source: france24.com