'World Cup Belongs To Fans, Not Investors,' Says Real Madrid After FIFA Drops FFE Plan

World Cup belongs to fans, not investors, says Real Madrid after FIFA drops FFE plan (Image Source: IANS)

FIFA Forward Enterprise: Real Madrid has welcomed FIFA's decision to withdraw its controversial FIFA Forward Enterprise (FFE) proposal, saying the move was "good news for football" and reiterating that the commercial rights of competitions such as the FIFA World Cup should never be treated as financial assets.

In a statement issued on Sunday, the Spanish giants praised FIFA for abandoning the proposal following widespread opposition from football stakeholders, adding that the decision was in the best interests of the sport and its supporters.

"Real Madrid C.F. warmly welcomes FIFA's decision to abandon the proposal for the partial sale of the commercial rights to its competitions. Our club believes this is good news for football, for its governing bodies and, above all, for the millions of fans of our beloved sport," the club said in an official statement.

The club also thanked UEFA, the continental confederations, national federations and other institutions that opposed the proposal, saying their collective stand had helped protect football.

"Real Madrid wishes to express its gratitude to UEFA, the confederations and federations, and all the institutions that opposed this proposal firmly and responsibly. Their unity and sense of duty have protected football at a decisive moment," the statement added.

Real Madrid argued that clubs form the backbone of international football by identifying, developing and releasing players for national teams, and therefore deserve a central role in decisions affecting the sport's commercial future.

"The World Cup and international football are, above all, events of public interest and a heritage that belongs to nations, fans and society as a whole. They must never be treated as mere financial assets to be commercialised for the benefit of a select few," the club said.

The Spanish club also rejected any attempt to sell future commercial revenues from international competitions without sharing the financial risks borne by clubs.

"It is the clubs that bear these costs, and any initiative that seeks to appropriate football's future revenues without assuming the responsibilities that generate them is unacceptable and must never be considered again," it added.

Real Madrid further drew parallels with its long-standing opposition to LaLiga's agreement with investment fund CVC, arguing that mortgaging future broadcasting revenues for decades creates a dangerous precedent for football.

"It is the clubs that bear these costs, and any initiative that seeks to appropriate football's future revenues without assuming the responsibilities that generate them is unacceptable and must never be considered again," it added.

Infantino said the proposal had been shelved after consultations revealed it had created divisions within world football, adding that FIFA's priority remained to unite the game and support its member associations.

Article Source: IANS