CONCACAF Rejects FIFA Proposal To Sell World Cup Stakes To Private Investors

The Confederation of North, Central America and Caribbean Association Football (CONCACAF) has rejected FIFA’s proposal to sell stakes in the FIFA World Cup to private investors, deepening growing opposition to the governing body’s plans.

Representatives of all 41 CONCACAF member associations met on Thursday to discuss the proposal amid increasing concerns over FIFA’s governance, transparency and decision-making process.

According to a source with knowledge of the meeting, who spoke on condition of anonymity to protect professional relationships, a majority of CONCACAF members expressed diminishing confidence in FIFA President Gianni Infantino’s leadership.

Another source familiar with the discussions suggested that assessment overstated the mood of the meeting, but acknowledged there was widespread concern over FIFA’s current approach to governance, transparency and leadership.

Following the meeting, CONCACAF issued a statement confirming that its member associations had unanimously rejected the proposal.

The decision comes after the Union of European Football Associations (UEFA) announced that its 55 member associations would boycott all FIFA competitions, including the World Cup, if the governing body proceeds with the controversial plan.

In its statement, CONCACAF said: “During the meeting, the membership expressed deep concerns about the lack of due process surrounding the proposal, the artificially short deadline imposed, and the absence of any review or approval by the relevant FIFA governance bodies. In addition, the need for private equity investment to fund new and existing FIFA Forward programmes following the most profitable FIFA World Cup in history was questioned.

“The discussion reinforced the need for greater transparency and proper governance.”

The confederation added that its members had formally rejected the proposal, while instructing their representatives on the FIFA Council to engage with FIFA on alternative ways of increasing funding for football development.

Specifically, the council members were tasked with exploring how FIFA’s existing financial reserves could be used to expand FIFA Forward funding across the CONCACAF region, rather than seeking private investment.

They were also instructed to urge the FIFA President to ensure that any future proposals follow the organisation’s established governance procedures through FIFA staff and the FIFA Council, in line with the FIFA Statutes.

CONCACAF had previously criticised the manner in which FIFA introduced the proposal. The confederation also held discussions on Wednesday evening, during which members questioned both the governance process behind the initiative and the rationale for seeking outside investment despite FIFA recording its most profitable World Cup to date.