Daijiworld Media Network - New Delhi
New Delhi, Jul 31: FIFA has defended its proposal to allow private investors to acquire minority ownership interests in the commercial rights of the World Cup and other competitions, asserting that "nobody is selling football" and blaming "incorrect media reports" for disrupting the consultation process.
The world football governing body issued the clarification after the Union of European Football Associations (UEFA) announced that its 55 member associations would not participate in FIFA competitions if the proposal remains in its current form.
The Confederation of North, Central America and Caribbean Association Football (Concacaf) has also rejected the proposal after a meeting attended by the presidents of its 41 member associations, its president, council members and FIFA Council representatives.
"We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation. Our planned consultation process was disrupted by incorrect media reports," FIFA said in a statement on Friday.
It added, "Nobody is selling football. This is not something FIFA would ever entertain."
Earlier this week, FIFA proposed the creation of a commercial subsidiary, FIFA Forward Enterprise (FFE), to manage its commercial rights, including broadcasting, sponsorship, ticketing and licensing, along with the operational delivery of its tournaments.
Under the proposal, FIFA plans to raise USD 4.2 billion by selling minority, non-controlling stakes in the entity, which is expected to be valued at around USD 20 billion.
FIFA has maintained that it would retain full control over football governance, competitions, the international match calendar and all sporting and regulatory matters. It has also argued that the move would significantly increase development funding for its 211 member associations.
On Friday, FIFA said the proposed FFE was intended solely to ensure that member associations could benefit from football's commercial opportunities without compromising the sport's governance or values.
The proposal requires the support of at least 106 of FIFA's 211 member associations to be approved. UEFA and Concacaf together account for 96 votes.
"Everyone has the right to express their opposition and to seek further clarification, but no single entity can claim to represent all 211 member associations around the world. Each member association should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of FIFA," the governing body said.