UK finance minister John Healey says he is proud of the role played by English and European football authorities in opposing FIFA’s proposal to sell a stake linked to the World Cup to private investors, arguing that the plan now appears to be losing momentum.
Speaking to reporters on Friday, Healey said: “I think FIFA’s plans are falling apart, and I am extremely proud that the Football Association and UEFA led the campaign against the idea of selling the World Cup.”
His comments come as opposition across Europe grows to plans promoted by FIFA president Gianni Infantino. The proposal would involve creating a new commercial company, FIFA Forward Enterprise, to bring together FIFA’s commercial operations and its tournament-organising activities.
A portion of the new company could then be made available to private investors.
FIFA has said FIFA Forward Enterprise would be valued at about $20bn, with the prospect of raising more than $4bn through private investment. The governing body insists it would retain full control of the company, as well as responsibility for football governance, competitions and sporting decisions.
However, UEFA and European national associations have reacted angrily to the proposal. They believe allowing private investors access to the commercial value associated with the World Cup would cross a clear red line.
UEFA member associations have threatened not to take part in FIFA competitions while the plan remains in place, unless FIFA abandons the proposal and provides guarantees that private interests will not be given access to the governing body’s governance structures or its competitions.
FIFA, meanwhile, says the creation of FIFA Forward Enterprise would generate more than $10bn to support the development of football in the coming years. It also says the plan would increase funding available to each of its 211 national associations.
The dispute has placed European football authorities at the centre of the resistance to Infantino’s proposal. Healey’s comments represent the latest public indication that the opposition believes the investment plan may not proceed in its current form.
The proposed structure would combine FIFA’s commercial activities with the organisation of its tournaments, while seeking outside capital from private investors. The governing body has maintained that such investment would not reduce its authority over the sport or change the way football decisions are made.
European associations remain concerned, however, that bringing private capital into the commercial value generated by the World Cup could ultimately affect the independence of FIFA’s operations and competitions.
With the threat of a boycott from UEFA members still attached to the proposal, FIFA faces continued pressure to provide assurances or withdraw the plan altogether.
