Everyone hates FIFA’s plan to sell the World Cup to private equity

FIFA's plan to sell stakes in the World Cup to private equity has been met with widespread opposition. The proposal, presented by FIFA President Gianni Infantino, aims to capitalize on the tournament's record-breaking revenue of approximately $15 billion. Under the plan, FIFA would become a majority owner, with up to 21 percent of the company offered to private shareholders.

This substantial shift from FIFA's current non-profit model has sparked outrage among FIFA's 211 member associations. Notable reactions include UEFA, representing European football, and Concacaf - representing North and Central America, plus the Caribbean - both threatening to boycott FIFA events if the plan proceeds. Additionally, the Asian Football Confederation has also come out against the proposal.

Collectively, these three entities make up nearly two-thirds of FIFA's membership, creating a significant challenge for Infantino's plan, which requires approval from a majority of FIFA members to be implemented. The intense backlash has raised questions about Infantino's future, with reports suggesting he may face a difficult re-election bid as FIFA president in March.

FIFA's chief operating officer recently described the proposal as "the project of one person" and vowed to fight against it. Despite this, FIFA and Infantino plan to continue with a "consultation period" for the plan, further escalating the conflict between the desire for financial gain and the preservation of football's roots.