CONCACAF, the governing body for football in North and Central America and the Caribbean, announced on Thursday that it will back its European counterpart, UEFA, in boycotting the International Federation of Association Football’s (FIFA) proposal to bring private investment into its competitions, including the World Cup.
On Tuesday, FIFA unveiled plans to create a commercial subsidiary to manage its flagship tournaments, opening the door for private investors to acquire minority stakes.
The proposal was spearheaded by FIFA president Gianni Infantino, who was under fire recently after United States president Donald Trump admitted to calling him to request a review of US striker Folarin Balogun’s ban during the World Cup, among other controversies.
According to the world football’s governing body, the proposal would “invite third parties to make minority, non-controlling investments” in a new subsidiary, FIFA Forward Enterprise (FFE).
The proposal requires the support of 106 of FIFA’s 211 member associations to pass.
