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CONCACAF declines FIFA stake sale plan
The North, Central American, and Caribbean Football Confederation (CONCACAF) rejected the International Federation's (FIFA) proposal to sell shares in the World Cup, citing the short timeframe and lack of transparency. They emphasized the need for better governance and transparency before moving forward with any steps. FIFA had offered to distribute a share worth $40 million to each confederation if they agreed to the proposal by September 19, as part of a plan to create a $20 billion company to manage the tournaments. However, the rejection means that funding will revert to the previous amount of $2.7 billion.
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