FIFA defiant over World Cup investment plan, despite UEFA’s vote to boycott

Core Impact Points

• FIFA plans to create a $20bn subsidiary, FIFA Forward Enterprise, to run the World Cup and other events.
• The plan aims to offer a stake of up to 20% to external investors, with Thrive Eternal, a fund run by Joshua Kushner, expected to lead the proposed investor group.
• UEFA has led the criticism of the proposal, accusing FIFA of putting the sport's 'soul' up for sale, and has voted to boycott all FIFA tournaments.
• CONCACAF, the regional federation for North America, Central America, and the Caribbean, has rejected the proposal, but has not followed UEFA with a boycott threat.
• The Asian Football Confederation has also issued a scathing letter to its member associations, warning that the proposal would never succeed without the support of all six regional blocs.
• FIFA President Gianni Infantino has said that member associations will receive $40m each if they agree to the proposal by September 19, but the plan will only proceed with the support of the majority of its member associations.