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Fifa offers $40m if nations back controversial plan
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Fifa offers $40m if nations back controversial plan

The Standard Gambia about 2 hours 3 mins read

Fifa president Gianni Infantino has written to all 211 member associations saying they will receive $40m (£30m) if they back his controversial plan to sell off stakes in its major competitions.

Infantino has set a deadline of 19 September for football federations to accept his plans if they want to access an initial $20m (£15m).

Football’s world governing body has said it wants to create a commercial subsidiary to run its main events, including the World Cup, and external investors will be able to buy stakes in it.

Uefa, European football’s governing body, accused Fifa of using football “to enrich themselves and their friends”.

The incentive to nations comes less than 24 hours after the bombshell statement rocked football’s foundations, quickly leading to condemnation from Europe, Asia and North America.

It is understood Infantino even left some of Fifa’s eight vice-presidents in the dark about his plan, which it is claimed could raise $10bn (£7.5bn).

Infantino has signed a five-page letter, seen by the BBC, outlining the merits of his proposal.

The letter states that if member associations respond positively by the deadline, $20m will be “available immediately” from 1 January.

In a statement on Wednesday, Uefa said: “We have learned of Fifa’s deadline to associations to support their proposals or have the one-off payout offer withdrawn. This says everything you need to know about this plan.

“But having held discussions with many stakeholders across the game, Uefa knows there is significant and growing opposition to Fifa’s scheme.

“Fifa cannot continue to use our sport to enrich themselves and their friends. We can grow the game correctly.

“It’s time to prioritise associations, clubs, leagues, players and fans.”

Fifa says the money will come from “liquidating a minority portion” of its stake on Fifa Forward Enterprise, a subsidiary company set up to maximise commercial revenue that will include private investors.

Although Fifa suggested Infantino gave a broad outline of his proposal at a council meeting just before the World Cup final this month, others who were present rejected this strongly. They say Infantino merely offered an aspirational vision for the future around maximising revenue streams.

They now believe they were duped, with the events of the past 24 hours leading them to conclude negotiations have all been completed and now they are being presented with a fait accompli.

“It is my duty and responsibility as Fifa president to present such game-changing opportunities to you, our members,” said Infantino.

This article was sourced from an external publication.

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