Infantino defends FIFA investment plan as 'golden opportunity'

FIFA President Gianni Infantino. (Photo/Reuters)

FIFA President Gianni Infantino has defended a controversial proposal to bring private investors into a new commercial subsidiary controlling the organisation's competitions and business operations, calling it a "golden opportunity" to accelerate football development worldwide.

The plan has prompted widespread criticism since it was revealed on Tuesday, with opponents warning that it could give private investors influence over competitions, including the World Cup.

"FIFA Forward Enterprise, or FFE, is actually a proposal, an offer. It’s part of a democratic process, a consultation process, and, above all, it is an opportunity but not an obligation," Infantino said in a video released Wednesday evening.

"It is a golden opportunity to turbocharge the development of the game globally. But again, it is just an offer, not an obligation."

Commercial structure

Under the proposal, FIFA Forward Enterprise would consolidate FIFA's commercial rights, including broadcasting, sponsorship, ticketing and licensing, with the organisation of its tournaments.

FIFA plans to raise up to $4.2 billion by selling minority, non-controlling interests in the subsidiary, which has been given an initial valuation of $20 billion.

The governing body says it would retain control over FFE and exclusive authority over football regulations, competitions and the international match calendar.

Infantino said the proposal was intended to unlock "previously uncaptured commercial value" and would require the support of a majority of FIFA's 211 member associations as well as approval from the FIFA Council.

However, the proposal has drawn fierce criticism over transparency, governance and the potential commercialisation of the World Cup.

UEFA said football's "soul and governance" were not assets to be traded, declaring: "It is not FIFA's to sell."

Infantino rejected suggestions that the investment model would fundamentally alter the sport, insisting supporters would benefit from increased funding in their countries.

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Source: TRT