Fifa plans to continue its consultation process regarding a proposal to sell stakes in its competitions to private investors, despite significant opposition from European and North American football associations. The global governing body stated on Friday that "nobody is selling football" and that the consultation process was disrupted by "incorrect media reports."
Under the proposed plan, Fifa intends to create a commercial subsidiary, named Fifa Forward Enterprise (FFE), to manage its main events, including the World Cups. External investors would be invited to acquire minority, non-controlling stakes in this subsidiary. This move requires the approval of Fifa's 211 member associations, with at least 106 votes in favor needed for the proposal to pass.
European football's 55 member associations, organized under Uefa, voted on Thursday to boycott World Cups if Fifa proceeded with the plan. Concacaf, representing 41 member associations in North and Central America, also announced its rejection of the proposal. Combined, Uefa and Concacaf represent 96 member associations, a majority of whom appear poised to vote against the plan.
In its statement, Fifa expressed respect for the feedback and concerns raised and reiterated its commitment to an "open and democratic consultation." The organization emphasized that the FFE proposal is designed to ensure that all member associations have the opportunity to benefit from the commercial aspects of football within their respective countries, without compromising the spirit or governance of Fifa or the sport itself.