As we told you last night, FIFA has floated a proposal to sell stakes in its tournaments to private investors. FIFA wants to set up a new private entity named the FIFA Forward Enterprise to manage the commercial operations of its flagship events, including the World Cup. As part of the plans, FIFA announced it was looking to sell a 21% minority stake in FFE to outside investors.
Well, it's being roundly rejected. After meetings today, CONCACAF's 41 members—which includes the Football Federation of Belize—rejected the proposal. The statement says, quote, "the membership expressed deep concerns about the lack of due process surrounding the proposal, the artificially short deadline imposed, and the absence of any review or approval by the relevant FIFA governance bodies. In addition, the need for private equity investment to fund new and existing FIFA Forward programs following the most profitable FIFA World Cup in history was questioned."
With that, CONCACAF and its 41 Member Associations have rejected the proposal and tasked FIFA Council Members with "instructing the FIFA President to ensure that any matter follows the proper governance processes… in accordance with the FIFA Statutes".
