Ex-FIFA chief Blatter blasts plan to sell stake in World Cup to investors

Core Impact Points

• FIFA plans to create a $20bn subsidiary to run the World Cup and offer stakes to external investors.
• Sepp Blatter, former FIFA President, opposes the plan, saying it would commercialize the World Cup and lose its cultural heritage.
• The move has sparked a furious response from European football authorities, including UEFA, which claims FIFA is putting the game up for sale.
• Blatter argues that the World Cup belongs to the people, not a handful of executives, and should not be treated as a commercial asset.
• The plan could have implications for the US market, as it may lead to increased commercialization of sports events and potentially alter the way they are organized and managed.
• The decision may also impact the global economy, as it could lead to a shift in the way sports-related investments are made and managed.