Football for sale: FIFA apologises for mistakes over plan to sell World Cup stakes
After a meeting in Morocco on Wednesday, FIFA apologised for mistakes made regarding a plan proposed by president Gianni Infantino to sell stakes in the World Cup, according to a statement released on Thursday. When the world's top football official tries to sell a piece of the sport's most sacred tournament to private investors, and fans across the globe respond by lighting torches of anger, it becomes clear: football is not just business, it is a religion. Gianni Infantino, FIFA's president, proposed creating a commercial structure to raise up to $4.2 billion for football development, but ran into a wall of resistance he did not expect.
UEFA, other confederations and even people within his own organisation rebelled against the idea of "selling the World Cup". In the end – apologies, admission of mistakes and a promise that it will not happen again. But this episode has become a mirror of a global dilemma: how to reconcile love of the game with its inevitable commercialisation, when even a non profit organisation is ready to compromise its principles for money, and fans – the only thing keeping football afloat – remain loyal in a way that cannot be bought.
In July, FIFA proposed creating a commercial subsidiary and selling minority stakes to private investors to fund a sharp increase in development funding for its 211 member associations. The proposed FIFA Forward Enterprise (FFE) would have combined FIFA's commercial rights – including broadcasting, sponsorship, ticketing and licensing – with tournament operations. FIFA aimed to raise up to $4.2 billion by selling minority, non controlling stakes in the company, based on an initial equity valuation of $20 billion. On 1 August, Infantino announced the abandonment of the proposed FFE project after strong opposition from UEFA, several other continental confederations and key figures within FIFA.
Later on Wednesday, FIFA officials met in Morocco, discussed the proposal and acknowledged mistakes, the statement said. The process should have been conducted differently, and mistakes were made after the proposal leaked to the media, the statement added. In a separate letter to the FIFA Council and member associations, FIFA apologised for the mistakes and promised to ensure they would not happen again. A review will now be conducted, with a report to be presented to the FIFA Council at its next regular meeting, the statement said.
Kieran Radnedge, author of books on sports policy and business, said that attracting private investment in the World Cup would contradict the wishes of fans, who have repeatedly stated they do not want excessive commercialisation of the tournament. "One person who did not expect that reaction was Infantino himself, who thought he could just float this idea to his 211 member associations, and they would all say, 'Oh, yes, please, we'd love lots of that money.' Infantino's scheme, his plan, his blueprint – call it what you will – was doomed to fail because people are afraid of the commercialisation of the World Cup itself. I mean, FIFA is a non profit organisation. And fans around the world are emotionally attached to the World Cup, and they don't like it when it's over commercialised," Radnedge said in an interview with China Global Television Network (CGTN).
The FIFA Forward Enterprise (FFE) proposal was one of the most ambitious and controversial projects in the organisation's history. The idea was valued at $20 billion, with the planned inflow of funds intended for football development in poorer countries. However, critics immediately pointed to the risk of losing control over FIFA's main asset – the World Cup itself. UEFA, the largest confederation, issued a harsh statement calling the plan "ill considered" and "dangerous". Even within the FIFA Council, dissenting voices were heard. Significantly, Infantino, usually confident, quickly backed down, indicating the strength of the opposition. The meeting in Morocco appears to have been an attempt to smooth things over, but FIFA's apologies only confirm that the organisation underestimated the emotional connection fans have with the tournament. Now a review and a report to the Council are an attempt to save face, but the public's distrust lingers.
As CCTV+ reports, the FFE incident has become a lesson for FIFA: even a powerful organisation cannot ignore the will of fans and national associations when it comes to the soul of the game, and the future of the World Cup will remain with those who see in it not just profit but also legacy.
