FIFA Faces Backlash Over $20 Billion Subsidiary Plan

FIFA's plans to sell stakes in a new $20 billion commercial subsidiary have drawn strong criticism from several regional soccer confederations. They expressed concerns over lack of due process and transparency as FIFA bypassed direct communication with stakeholders. The proposal offers stakes to private investors, raising governance issues.

FIFA's proposal to sell stakes in a $20 billion commercial subsidiary has triggered a wave of criticism from soccer's regional confederations. These bodies allege that they were caught off-guard by the governing body's decision to engage private investors without prior consultation.

CONCACAF and the Asian Football Confederation expressed their disapproval, stating they learned about the equity sale solely through media reports. They emphasized the need for good governance and stakeholder consultation, highlighting concerns about the lack of due process in FIFA's decision-making.

While some see potential benefits, key organizations remain wary. UEFA, along with several national football associations, criticized the plan for undermining the sport's integrity. Questions about governance and independence arise as FIFA pushes for a quick endorsement of the proposal.