FIFA today announced plans to create a US $20 billion commercial subsidiary called FIFA Forward Enterprise. The plan is to sell up to 20% equity in the World Cup to private investors.
The move surprised CONCACAF, which issued a release criticizing the lack of due process. Today, CONCACAF Vice President for Central America, Belize's Sergio Chuc, explained that he is suspicious of the move and the lack of communication:
Sergio Chuc, VP, CONCACAF
"CONCACAF was surprised just like I was, I got the memo yesterday late in the evening and when I read it, I was like, where is this coming from? I made a call to some people in CONCACAF and they got the memo the same time I got it so CONCACAF has not taken a position, all we're saying right now is that we don't know what is actually happening, we need to get more information. The membership is going to meet tomorrow, a virtual meeting tomorrow meeting and CONCACAF will be putting out their official position if it's something we will support or something we cannot support."
"My personal opinion is that they definitely acted wrongly, it did not go through the proper channels. You know here in CONCACAF we are one family, we have values that we've developed the last decade. After what happened in 2015, we don't want to go back to that dark past and so we have certain standards in place and our council would never push something out like that before deliberating on it and then informing the member association then getting it out for their support or not."
Jules Vasquez:
"It looks like, I'll just say it plainly, it looks like Infantino is taking you lightly, the CONCACAF block."
Sergio Chuc:
"Well I believe because we have 35 votes and they're mostly small islands and small countries like Belize that depends in some instances up to 95 or a 100% on the funding FIFA delivers to us that it would have been a foregone conclusion if they offered up that money for development purposes that we would go for it. I am not saying that they won't go for it, tomorrow there will be a healthy debate and I'm sure that from what I'm gathering from some people right here in Belize, this seems good."
Member associations, such as CONCACAF, have been offered US $20 million in immediate funding as an incentive.
