Key points
- FIFA plans a $20 billion subsidiary for the World Cup and other events, offering external investors stakes of up to 20%.
- CONCACAF and the AFC said they learned about the proposed equity sale through media reports and criticized the lack of consultation.
- EU Sport Commissioner Glenn Micallef warned private investors’ financial interests could conflict with FIFA’s regulatory responsibilities.
- UEFA plans an emergency meeting with its 55 member associations, with a boycott of FIFA competitions reportedly among possible responses.
- FIFA’s 211 member associations must approve the proposal; Gianni Infantino set a September 19 deadline and offered a $40 million incentive.
How the story developed
A living timeline
All times shown in UTC
Latest development
FIFA announced Tuesday that it plans to establish the FIFA Forward Enterprise and sell minority stakes, drawing immediate opposition from UEFA.
Latest development
FIFA announced the proposed investment structure, which still requires approval from its 211 member associations.
Latest development
FIFA said it intends to present the investment plan to its council soon; approval from the council and a majority of member associations is required.
Latest development
FIFA said a consultation on the proposed company has begun, while UEFA publicly opposed the plan.
Latest development
EU Sport Commissioner Glenn Micallef said the European Commission will study FIFA’s proposal and raised concerns about its commercialisation.
Latest development
CONCACAF said Wednesday it was not informed about FIFA’s proposed equity sale and expressed deep concern over the lack of due process; UEFA is due to meet later this week.
Latest development
CONCACAF and the AFC publicly criticized FIFA after saying they were not consulted before the proposed investment plan was announced.
Source transparency