Ex-FIFA chief Blatter blasts plan to sell stake in World Cup to investors

Former FIFA President Sepp Blatter has strongly criticized FIFA's proposal to create a subsidiary to manage the World Cup and other events, with plans to sell up to 20 percent stakes to external investors. Blatter, who led FIFA for 17 years until 2015, stated that the World Cup is not a commercial asset for executives or private equity investors seeking profits, but rather belongs to the people and is part of world football's cultural heritage. He argued that transforming FIFA into a profit-oriented corporate structure would cause it to lose its soul. This plan has also drawn criticism from European football authorities like UEFA, who believe FIFA is putting the game up for sale.

FIFA President Gianni Infantino has set a September 19 deadline for member federations to accept a $20 million offer each. This offer is part of a plan to create a $20 billion FIFA subsidiary, 20% owned by private investors, which would manage the organization's competitions. The proposal, backed by Joshua Kushner's investment firm Thrive Capital, aims to sell stakes in the World Cup. The plan has drawn criticism from UEFA, which stated the World Cup is "not FIFA's to sell," and concerns from Asian and CONCACAF football confederations regarding due process. If approved, members would receive the $20 million, with J.P. Morgan leading the investor process. Rejection would result in the previously promised $10 million over four years.

FIFA has proposed creating a new subsidiary, FIFA Forward Enterprise, to manage the World Cup and other events, with plans to sell minority stakes of up to 20 percent to private investors. This move aims to raise up to $4.2 billion, which FIFA states will be reinvested in global football development. The proposal, which still requires a vote from FIFA's 211 member nations, has drawn strong criticism from UEFA, who view it as crossing an unacceptable line for football governance. A potential investor group is expected to be led by a vehicle founded by Joshua Kushner.

Newcastle United manager Eddie Howe has stated that the club's Saudi Arabian owners, represented by the Public Investment Fund (PIF), remain fully committed to achieving success at the club. This reassurance comes as PIF announced it will cease funding for the LIV Golf series after the 2026 season. Howe met with PIF representatives this week and described the meetings as constructive, emphasizing that the owners' desire to see Newcastle reach the top of the Premier League and win trophies is unchanged. PIF, which acquired Newcastle in October 2021, stated its continued commitment to international sports investments as a priority sector, despite the shift in its LIV Golf strategy.