World football’s governing body, FIFA, has responded to growing criticism over its proposed private investment plan, reaffirming its commitment to an “open and democratic” consultation process with all member associations.
The response came on Friday after UEFA threatened to boycott the FIFA World Cup over the proposal, which would establish a commercial subsidiary to oversee FIFA’s major tournaments and allow private investors to acquire stakes in the venture.
In a statement, FIFA stressed that every one of its 211 member associations must be given the opportunity to examine and vote on the proposal.
“Nobody is selling football,” FIFA said in the statement.
“This is not something FIFA would ever entertain.”
The world football body acknowledged concerns raised by regional confederations, including UEFA and CONCACAF, the governing body for North and Central America, but maintained that the consultation would continue.
“We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation,” the statement said.
“Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each (member association) has the ability to express its vote based on facts.”
FIFA believes the proposal could generate as much as $20 billion through the FIFA Forward Enterprise initiative.
If the plan receives approval, each of FIFA’s 211 member associations could receive a one-time payment ranging from $8 million to $20 million.
