A silhouette of FIFA President Gianni Infantino, words "FIFA's $20B Enterprise" and rising stock graph are seen in this photo illustration created Tuesday. Reuters-Yonhap
PARIS — There was a furious backlash on Wednesday to FIFA's controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a private subsidiary.
World football's governing body had said Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests."
Various media outlets reported on Wednesday that FIFA president Gianni Infantino had sent a letter to the associations saying they will each receive $40 million if they back the plan — but they must sign up by Sept. 19.
"In total for the upcoming cycle starting as of Jan. 1, 2027, each member association will have the possibility of access up to $40 million per member association under this proposal," said Infantino.
