European FA to boycott World Cup
The European Football Union (UEFA) has decided to boycott the World Cup and other FIFA competitions entirely, as a protest against a plan to sell a stake in a subsidiary managing FIFA tournaments to external investors. The plan involves establishing a company valued at $20 billion, offering up to 20% of it to investors, with the aim of raising up to $4.2 billion, while FIFA retains full control over the new entity called "FIFA Forward Enterprise." UEFA affirms that the World Cup is not for sale and that it is a sporting heritage that should not be turned into an investment product.
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