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CONCACAF joins UEFA, leaving CAF behind with statement on FIFA’s plan to sell World Cup stake
FIFA’s controversial proposal to sell stakes in the World Cup looks set to fail it’s first test
The battle over FIFA’s controversial proposal to sell minority stakes in the commercial rights of the World Cup continues to gather momentum.
After UEFA threatened a boycott, CONCACAF has now rejected the plan outright, while CAF remains undecided.
CONCACAF rejects FIFA proposal but stops short of boycott
CONCACAF and its 41 member associations voted to reject FIFA’s proposal during a meeting on Thursday, citing concerns over transparency, governance and the speed of the consultation process.
In a statement, the confederation said its members were troubled by the lack of due process, the short deadline for approval and the absence of review by FIFA’s established governance bodies.
“The discussion reinforced the need for greater transparency and proper governance,” CONCACAF said, confirming that all 41 member associations had rejected the proposal.
Unlike UEFA, however, CONCACAF stopped short of threatening a boycott of FIFA competitions, opting instead to formally oppose the plan while calling for improved governance.
CAF remains cautious as pressure mounts on FIFA
CONCACAF’s decision further isolates FIFA after UEFA’s 55 member associations unanimously voted to boycott the World Cup and all FIFA competitions if plans to create FIFA Forward Enterprise (FFE) proceed.
FIFA wants to establish the new commercial subsidiary, valued at around $20 billion, before selling up to a 20 per cent minority stake to external investors in a move expected to raise approximately $4.2 billion.
The governing body insists it would retain complete control over football governance, competitions and sporting decisions while using the additional revenue to fund football development worldwide.
CAF has yet to take a firm position, instead requesting more time to study the proposal before reaching a decision.
Former Nigeria Football Federation president Amaju Pinnick has already voiced his support for FIFA president Gianni Infantino’s plan, arguing that member associations could benefit significantly from increased funding if the proposal is approved.
With UEFA threatening a boycott, CONCACAF rejecting the proposal and CAF still weighing its options, football’s biggest governance dispute in years shows no signs of slowing down.
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