CONCACAF followed UEFA on Wednesday by criticising FIFA&rsquo;s controversial plans to sell a stake in the business operations of the <a href="https://www.mid-day.com/sports/football/article/mbappes-reboot-23640341" rel="nofollow">World Cup</a> and its other competitions through the creation of a semi-private subsidiary.&nbsp;
World football&rsquo;s governing body said on Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by &ldquo;carefully selecting long-term investors who will purchase minority, non-controlling interests&rdquo;.&nbsp;
FIFA&rsquo;s statement was a rapid response to a story in British newspapers The Times and The Financial Times based on leaks of the plan from two sources. The Times reported that <a href="https://www.mid-day.com/sports/football/article/fifa-president-gianni-infantino-confirms-fifa-will-discuss-64-team-world-cup-proposal-23639520" rel="nofollow">FIFA president Gianni Infantino</a>, 56, stood to profit from the scheme by becoming commissioner of the FFE after his expected next term expires in 2031.&nbsp;
&ldquo;This crosses a line that football&rsquo;s governing institutions should never cross. UEFA takes it extremely seriously,&rdquo; said UEFA&rsquo;s statement. &ldquo;The soul and governance of football are not assets to trade &mdash; especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA&rsquo;s to sell.&rdquo;
CONCACAF, which governs North and Central American football, said it was &ldquo;deeply concerned by the lack of due process&rdquo;.
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CONCACAF, which governs North and Central American football, said it was “deeply concerned by the lack of due process”.

FIFA’s plan to sell USD 4.2bn stake in WC widely criticised

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CONCACAF, which governs North and Central American football, said it was “deeply concerned by the lack of due process”

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Home / Sports / Football / Article / FIFA’s plan to sell USD 4.2bn stake in World Cup widely criticised