Controversy Over FIFA's $20 Billion World Cup Subsidiary

FIFA's plan to create a $20 billion subsidiary to manage the World Cup and other events has sparked widespread concern. Key football organizations like UEFA and various national federations express disapproval due to lack of transparency and consultation. Stakeholders emphasize sound governance, transparency, and collective interests of football.

In a controversial move, FIFA announced plans on Tuesday to establish a $20 billion subsidiary aimed at managing the World Cup and its other events. This new development, which includes offering up to 20% stakes to external investors, has sent ripples through the global football community, drawing sharp responses from key football organizations.

UEFA, in an emphatic statement, criticized FIFA for crossing a significant line, emphasizing that football's soul and governance should not be traded as assets. Concacaf and other federations expressed disappointment over the lack of transparency and due process in FIFA's decision-making.

Football stakeholders are urging a thorough review, asserting the importance of collective interests and governance. Criticism was also directed at FIFA President Gianni Infantino, highlighting concerns over mixing politics, money, and power without transparency.