The governing body of world football announced on Tuesday its intention to establish a $20 billion subsidiary to oversee the World Cup and its other events, planning to offer stakes of up to 20% to external investors.
“No UEFA national teams will take part in any FIFA competition for as long as these proposals are on the table, unless this idea is completely retracted and binding guarantees are provided that FIFA will never again allow private ownership of its governance or competitions,” UEFA remarked in a statement.
“The World Cup should not be treated as an investment vehicle. It represents one of football’s most significant sporting legacies. It has been created over generations by players, national teams, and fans across all continents,” UEFA stated further.
“No portion of it should ever be handed over to private investors. The World Cup is not up for sale.”
A representative from the English FA supported the decision, expressing that the organization “stands united with our European partners”.
The Asian Football Confederation (AFC) and CONCACAF also voiced strong criticism towards FIFA earlier, noting that they were not included in the discussion. The Women’s World Cup is scheduled to take place in Brazil next year, while FIFA is set to host its first Under-15 World Cup in Azerbaijan this October.
