Concacaf and Uefa condemn FIFA plan to sell World Cup stakes to private equity
The North American and European football confederations have united to condemn FIFA’s opaque proposal to privatize stakes in its commercial entity, sparking fears of a fundamental shift in the sport's governance and triggering potential legal action.
The Confederation of North, Central America and Caribbean Association Football has formally aligned with Uefa to oppose FIFA’s strategy of selling portions of its new commercial vehicle to private investors. The governing bodies were blindsided by the proposal, learning of it through media reports rather than official governance channels.
FIFA, working alongside JP Morgan, established Fifa Forward Enterprise to generate up to $4.2bn for global development projects. The newly created entity carries a valuation of $20bn, with US firm Thrive Eternal, run by Joshua Kushner, tapped to lead the private investment group.
The rushed timeline has alarmed stakeholders across the sport. Member associations face a 19 September deadline to accept the deal, which promises an initial $20m payout per nation from 1 January next year.
High-ranking officials were entirely excluded from the negotiations. Concacaf president Victor Montagliani and FA chair Debbie Hewitt, both FIFA vice-presidents, discovered the advanced plans only after they appeared in the press.
Concacaf released a strongly worded statement condemning the lack of due process and transparency. “We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place,” the confederation stated.
Uefa is preparing a coordinated response, including potential legal challenges, during emergency talks scheduled for Wednesday. The European body argues that the move threatens the structural integrity of the sport and could force further tournament expansions or more frequent World Cups.
“The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially,” Uefa declared. The European governing body added that the sport is not owned by any single entity and certainly not by FIFA to sell.
The backlash has extended beyond football administrators to the highest levels of government. Britain’s new prime minister, Andy Burnham, publicly rejected the privatization effort on social media.
“The World Cup is not a product,” Burnham wrote. “It is the greatest competition in world sport, and it was never anyone’s to sell.” He concluded that dressing up the deal changes nothing, because selling a piece of it means selling out.
