'World Cup Is Not For Sale': UEFA To Mega Event Till FIFA Scraps Private Ownership Plan

World Cup is not for sale: UEFA to mega event till FIFA scraps private ownership plan (Image Source: IANS)

The FIFA World Cup: The Union of European Football Associations (UEFA) has announced that its 55 members will not participate in FIFA competitions till the proposal to allow private investors to acquire ownership interests in the World Cup and other competitions remains in place.

The decision came after an emergency meeting of UEFA and its member associations on Thursday, escalating the biggest governance crisis yet surrounding FIFA's plan to establish FIFA Forward Enterprise.

In a strongly worded statement, UEFA said its 55 associations were united in rejecting the proposal and insisted that the World Cup should not be treated as a commercial investment product.

"UEFA and its 55 member associations stand as one. We unanimously and unequivocally reject FIFA's proposal to transfer ownership interests in the World Cup and other FIFA competitions to private investors. The World Cup is not for sale," UEFA said in an official statement released on Thursday.

FIFA's proposal, announced earlier this week, involves creating a commercial subsidiary that would bring together its commercial rights, including broadcasting, sponsorship, ticketing and licensing, with the operational delivery of its tournaments. FIFA plans to raise $4.2 billion by selling minority, non-controlling stakes in the entity, which would initially be valued at around $20 billion.

FIFA has maintained that it would retain complete control over football governance, competitions, the international match calendar and all sporting and regulatory matters. It has also argued that the plan would significantly increase development funding for its 211 member associations.

However, UEFA said the proposal was unacceptable because private investors acquiring ownership interests in FIFA competitions could eventually influence decisions involving the international calendar, competition formats and the future direction of the sport.

UEFA also criticised FIFA for developing the proposal without what it described as meaningful consultation with those responsible for governing football across the world.

The European governing body said national associations had effectively been presented with a choice between accepting the proposal and losing access to financial benefits, calling the approach "governance by intimidation."

UEFA's boycott announcement means European national teams will not take part in FIFA competitions while the proposal remains active. UEFA said participation could resume only if FIFA abandons the proposal entirely and provides binding assurances that it will not again open its competitions or governance structure to private ownership.

“Nobody should be in any doubt: UEFA and its national associations will oppose these plans with absolute determination. There are moments when institutions are judged not by what they are prepared to accept, but by what they refuse to compromise. This is one of those moments. Some things are simply too important to sell. The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale,” the statement concluded.

UEFA's boycott announcement means European national teams will not take part in FIFA competitions while the proposal remains active. UEFA said participation could resume only if FIFA abandons the proposal entirely and provides binding assurances that it will not again open its competitions or governance structure to private ownership.

FIFA's Forward Enterprise proposal still requires approval from the FIFA Council and support from a majority of its 211 member associations.

Article Source: IANS