British Finance Minister John Healey stated that FIFA’s controversial plan to sell a stake in the World Cup is collapsing following fierce, coordinated pushback from European football authorities and governments.
FIFA President Gianni Infantino had floated a plan to create a $20-billion commercial subsidiary (FIFA Forward Enterprise) backed by JP Morgan, which would sell up to a 20% stake in the tournament’s commercial rights to private investors.
The scheme triggered immediate outrage across the sport, drawing strong condemnation from UK leadership including Prime Minister Andy Burnham, who asserted that the World Cup “was never anyone’s to sell”.
British finance minister John Healey said on Friday he was proud that English and European soccer authorities had galvanized the opposition to FIFA’s plans.
“I think FIFA’s plans are falling apart, and I’m dead proud … that the FA and UEFA have led the charge against the idea the World Cup’s for sale,” Healey told reporters. “I want to see these plans put to one side.”
UEFA Boycott:
UEFA and its member nations slammed the move as an attempt to “sell the soul of football”, threatening to boycott future FIFA competitions unless the proposal is completely scrapped.
Pressure mounted further as Carlos Cordeiro, a senior advisor to Gianni Infantino and former U.S. Soccer Federation president, resigned with immediate effect in protest, calling the proposal “a bad deal for football”.
Minister Healey praised the decisive action of the English Football Association (FA) and UEFA in leading the charge, noting that growing internal dissent and political pressure have left the controversial equity plan virtually untenable.
