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UEFA to hold emergency meeting over FIFA World Cup stake sale plan

sportsJul 30, 202638425

UEFA has called an emergency meeting after FIFA president Gianni Infantino unveiled plans to sell stakes in FIFA competitions, including the World Cup, to private investors led by Thrive Capital. FIFA says the deal would deliver $40m (£30m) to each member association once finalised and is offering an initial $20m (£15m) available to federations that accept the plan by a 19 September deadline. The investor group is linked to Josh Kushner via Thrive Capital, with Greg Maffei named by FIFA as a key commercial adviser. Infantino’s proposal has provoked incredulity and anger from fans, politicians and regional governing bodies and drawn a formal condemnation from UEFA accusing FIFA of using football to enrich themselves and their friends. Infantino retains a strong voting base among many African, Asian and American members and FIFA votes require only a simple majority of its 211 members, making the plan more likely to pass than not. If approved, the move would consolidate Infantino’s power long term and transfer commercial control and profits from the World Cup to private investors; European bodies are preparing coordinated responses including talk of boycotts and political intervention such as summonses to the European Parliament.

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