FIFA to continue talks on $20 billion investment plan amid UEFA backlash

FIFA said ​on Friday it would push ahead with consultations on a plan to bring private investment into ​the World Cup and its other tournaments, after Europe's football federation threatened a boycott and other regional confederations issued stinging rebukes of the plan.

Switzerland-based FIFA said "incorrect media reports" had disrupted its planned consultation process but it would press on. "We will proceed with this consultation process to ensure that each MA (Member Association) ‌has the ability to ⁠express its ⁠vote based on facts," it said in a statement issued in the middle of the European night.

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FIFA is pushing to create a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to run the World Cup and its other events, with a stake of up to 20% to be offered to external investors. Thrive Eternal, a fund run by Joshua Kushner-founded Thrive Capital, is expected to lead the proposed investor group, FIFA said. Joshua is the brother of Jared Kushner, U.S. President Donald Trump's son-in-law.

'NOBODY IS SELLING FOOTBALL'

UEFA has led the criticism of the proposal, accusing FIFA of putting the ​sport's "soul" up for sale. On Thursday, UEFA's 55 member nations voted unanimously to boycott ⁠all FIFA ‌tournaments, less than two weeks after Spain were crowned World Cup champions.

"Nobody is selling football. This is not ​something FIFA would ever ​entertain," FIFA said.

"Everyone has the right to express their opposition and to seek further clarification but ⁠no single entity can claim to represent all 211 MAs around the world.

"Each MA ​should be allowed to review the proposal and have a say in shaping their own ​future. These are the democratic principles of FIFA." CONCACAF, the regional federation for North America, Central America and the Caribbean, rejected the proposal during a meeting on Thursday but the 41-member body did not follow UEFA with a boycott threat. The Asian Football Confederation also issued a scathing letter to the continent's 47 member associations and warned the proposal would never succeed without the support of all six regional blocs.

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'KEEP FOOTBALL FOR THE FANS'

FIFA president Gianni Infantino said in a letter to all football associations this week that they would ‌receive $40 million each if they agreed to FIFA's proposal by September 19. UEFA and CONCACAF combined have 96 associations, just under half of FIFA's 211 members. On Friday, FIFA stressed that it would not go ahead ​with the plan without ​the support of the majority of ⁠its member associations.

"These principles underpin the FFE proposal: unprecedented development funding, truly global ownership of the commercial opportunities of our sport, and full self-determination through a democratic process for all MAs," it added. Spanish World Cup winner Xabi Alonso said on Friday that football ​had to prioritise the people who watch the game, not private interests. "The way we love football is like this, and we have just seen a great World Cup. If things stay this way, then good. We have to defend the interests of all the people," the Chelsea coach told reporters in Sydney. "I think this is a common feeling among football people. We want to keep football for the fans, for everyone, not for other interests. So hopefully this will not happen."