Concacaf opposes Gianni Infantino’s proposal to sell FIFA shares to private investors.
Concacaf, the body representing soccer in North America, Central America, and the Caribbean, has publicly voiced its rejection of an ambitious proposal by Gianni Infantino, the president of FIFA.
During a meeting with its 41 member associations, the confederation voted against the creation of a new company and the sale of shares to private investors—a decision that could trigger turmoil within the governance of world soccer.
Concerns over governance and transparency
In an official statement, Concacaf detailed the reasons for its opposition.
The organization pointed to deep concerns regarding what it considers a lack of due legal process and an artificially short timeframe for reviewing the proposal.
The absence of review and approval by FIFA’s competent governance bodies was also cited as a critical point.
Furthermore, questions have been raised about the necessity of private capital investment to fund the organization’s programs, especially following the financial success of the most recent World Cup.
FIFA’s plan and the organization’s history
Infantino’s proposal aims to create the “FIFA Forward Enterprise” (FFE), a subsidiary that would centralize the entity’s commercial operations and major competitions.
The plan involves selling 20% of the shares, valued at approximately $4.2 billion, with the promise of increasing financial distributions to member associations.
However, Concacaf used the statement to recall FIFA’s history of corruption scandals, highlighting the importance of maintaining a focus on the values of the sport and the integrity of its decisions.
Concacaf’s rejection joins other expressions of discontent, such as that of UEFA, which has also declared a boycott of FIFA tournaments until the proposal is canceled.
The confederation’s decision could significantly impact the viability of Infantino’s project, as he seeks to overhaul the financial model of soccer’s global governing body.
