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UEFA Criticizes FIFA's World Cup Company Plan
The European Football Union (UEFA) has criticized FIFA's plan to establish a company valued at $20 billion to manage the World Cup, involving private sector investors, including a company founded by Joshua Kushner. UEFA stated that this move lacks transparency and constitutes an encroachment on the ownership of football, emphasizing that tournament management is not the property of clubs or federations. Reports indicate that "FIFA Forward" aims to raise $4.2 billion to fund development programs, with the company's assets valued at $20 billion. It has partnered with J.P. Morgan Bank to implement the plan, amid political and financial risks and potential impacts on the relationship between FIFA and national federations. UEFA has escalated its stance, refusing to accept transforming football into tradable assets.
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