Concacaf and its 41 Member Associations have rejected FIFA President Gianni Infantino’s proposal to establish a new commercial subsidiary and sell minority interests to private investors.
The regional governing body announced its decision on Thursday following a meeting of Member Association presidents, Concacaf President Victor Montagliani, Council members and the region’s representatives on the FIFA Council.
The proposal would create FIFA Forward Enterprise, a FIFA-owned subsidiary responsible for the organisation’s commercial and event operations, including those connected to the FIFA World Cup.
FIFA plans to raise up to US$4.2 billion by selling minority, non-controlling interests in the company to long-term investors. J.P. Morgan has estimated the enterprise’s initial value at US$20 billion.
Concacaf said its members had raised “deep concerns” about the process surrounding the proposal, including what it described as an artificially short deadline, a lack of consultation and the absence of prior review or approval by FIFA’s relevant governance bodies.
The confederation also questioned why private investment was needed to fund FIFA Forward programmes following what FIFA described as the most profitable World Cup in its history.
Concacaf said its members had tasked their FIFA Council representatives with engaging FIFA to determine how the organisation’s existing reserves could instead be used to increase development funding across North America, Central America and the Caribbean.
The representatives were also instructed to press for the proposal to be subjected to FIFA’s established governance processes in accordance with its statutes.
“Through these actions, Concacaf reaffirms that football’s future, and its greatest asset, must remain in the hands of our football family,” the confederation said.
The decision means the Montserrat Football Association is among the 41 Concacaf Member Associations represented in the collective rejection.
FIFA Promises Increased Funding
Infantino has presented FIFA Forward Enterprise as a means of unlocking additional commercial value and directing more money towards football development globally.
Under the proposal, regular FIFA Forward funding for each of FIFA’s 211 Member Associations would increase from US$8 million in the current cycle to US$20 million for 2027 to 2030. It would then rise to US$22 million for 2031 to 2034 and US$24 million for 2035 to 2038.
Associations would also have the option of accessing up to an additional US$20 million through a new FIFA Fast Forward Programme for projects such as stadiums, training centres, coaching, competitions, grassroots football and national team development.
If the proposal is not approved, FIFA has said the previously planned Forward 4.0 programme would continue, providing US$10 million to each Member Association during the next funding cycle.
Infantino said FIFA would retain the controlling interest in the new company, a majority of its board and full authority over football’s regulatory and sporting decisions.
“Every benefit that FIFA Forward Enterprise generates will be reinvested back into football,” he said.
He added that the proposal would proceed only with support from a majority of FIFA’s Member Associations and approval from the FIFA Council.
However, Member Associations have reportedly been given 53 days to support the plan or lose access to the proposed one-off funding offer.
Opposition Growing
Concacaf’s rejection follows criticism from UEFA, European football’s governing body, which accused FIFA of applying pressure by attaching a deadline to the funding offer.
“Today we have learned of FIFA’s deadline to associations to support their proposals or have the one-off payout offer withdrawn. This says everything you need to know about this plan,” UEFA said on Wednesday.
UEFA said there was “significant and growing opposition” to the proposal and called for FIFA to prioritise associations, clubs, leagues, players and supporters.
Concacaf had previously said it learned details of the proposal through media reports and a subsequent FIFA media release rather than through FIFA’s formal governance channels.
Its 41 members have now collectively rejected the plan while asking FIFA to examine whether its reserves could finance increased development support without selling an interest in the commercial entity to private investors.
Source: Concacaf Statement Regarding the Proposed FIFA Forward Enterprise | Concacaf
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