The controversial FIFA project involving selling shares of the World Cup, which implies privatizing part of the tournament, has caused great rejection among most football stakeholders. The president of the football entity, Gianni Infantino, remained silent in the face of numerous criticisms until he finally defended himself by assuring that it is “a proposal and not an obligation.”
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The governing body of the king of sports announced this week its plans to create a $20 billion subsidiary to manage the World Cup and the rest of its sporting events under its umbrella with the entry of external investors who will control 20% of the tournaments. The proposal sparked opposition from numerous Federations from different countries and confederations, such as UEFA, as well as LaLiga.
It is part of a democratic process. FIFA continues to run football without any external interference”
Gianni Infantino
President of FIFA
Despite the criticisms, Infantino stated that strengthening the commercial aspect of football is the next natural step. “It is part of a democratic process – a consultation process – and, above all, it is an opportunity, not an obligation, and, as I have said, it initiates the consultation process,” Infantino declared in a video released by FIFA.
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FIFA is one of the richest sports organizations in the world, as it generates billions of dollars in revenue, largely from broadcasting rights, sponsorship, and other commercial agreements linked to the World Cup.
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Infantino described it as “evident” that FIFA “continues to run football without any external interference.” “And the most emblematic tournaments it organizes will always continue to exist,” he concluded.
