Yahoo Sports· 2h ago· 1 min read
FIFA has proposed a plan to sell stakes in the World Cup and other events to private investors, provoking a furious response from the European football governing body, UEFA.
Under the plans announced by FIFA on Tuesday, a $20bn subsidiary would be created to run the World Cup and other events.
World football’s governing body said it would retain a majority share in the new FIFA Forward Enterprise, offering minority stakes to external investment to raise up to $4.2bn.
The plan still needs to be voted on by FIFA’s 211 member nations.
If successful, the proposed investor group is expected to be led by a vehicle founded by Joshua Kushner, the brother of US President Donald Trump’s son-in-law, Jared Kushner, FIFA said.
UEFA said the proposal “crosses a line that football’s governing institutions should never cross”.
Reinvested in the game FIFA has just held a 48-team World Cup across…
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