FIFA President Gianni Infantino has defended the proposed creation of a private subsidiary to exploit the commercial value of the World Cup and other major competitions.
Infantino described the plan as “an opportunity but not an obligation.”
Naija News reports that the proposal to sell stakes in FIFA’s major competitions has sparked widespread criticism and disbelief since it was made public on Tuesday.
However, Infantino, in a video released on Wednesday evening, insisted that the proposed FIFA Forward Enterprise, FFE, was aimed at unlocking more money from the commercial side of football and directing the benefits to the development of the game around the world.
“FIFA Forward Enterprise, or FFE, is actually a proposal, an offer. It’s part of a democratic process – a consultation process, and, above all, it is an opportunity but not an obligation,” Infantino said.
The FIFA president described the proposal as a major opportunity to increase investment in football development across the world.
“It is a golden opportunity to turbocharge the development of the game globally. But again, it is just an offer, not an obligation,” he said.
Infantino maintained that the proposal was designed to unlock what he described as “previously uncaptured commercial value” in FIFA-owned competitions.
He said the plan would not automatically take effect, as it would first have to go through a democratic process involving FIFA’s 211 member associations.
The proposal would also require approval from the FIFA Council before it could be implemented.
Explaining the reason behind the proposal, Infantino said FIFA needed additional commercial expertise to fully exploit the financial opportunities surrounding its major competitions.
“Capturing that value requires additional expertise, additional insight, distinct from governing and developing the sport,” he said.
According to him, the proposed subsidiary would be responsible for commercialising and organising FIFA-owned competitions, as well as handling sponsorship, broadcasting rights, licensing and other new business opportunities.
“It would simply commercialise and organise all FIFA-owned competitions along with sponsorship, broadcast, licensing and new ventures for the benefit of FIFA’s 211 member associations,” Infantino stated.
The FIFA president also sought to reassure football supporters that the proposed commercial structure would not change the nature of the game.
He argued that the move would instead create more opportunities for football development and improve the experience of fans around the world.
Infantino said, “Fans from everywhere in the world would gain immeasurably from this game-changing potential because it will transform football in their countries.”
The proposal has nevertheless continued to generate debate, with critics questioning the idea of private investors taking stakes in FIFA’s major competitions and the possible impact on the future control and commercial ownership of the sport.
Infantino, however, insisted that the plan remained only a proposal and would be subject to approval through FIFA’s established decision-making process.
