FIFA expects to receive the first round of funding from private investors by the end of October as Gianni Infantino presses ahead with his controversial plan to sell part of the governing body’s commercial operations despite mounting opposition.
A confidential timeline shows the process is already moving at pace, according to BBC.
Investors will receive access to key documents in August before confirming the size and terms of their investments in September. Commitment letters and final agreements are due in October, with funds expected to reach FIFA before the end of that month.
The schedule has emerged while FIFA is still asking its 211 member associations to approve the proposal. Associations have until 19 September to decide whether to back the creation of a subsidiary company that would oversee FIFA tournaments and allow outside investment. A simple majority is required for the plan to proceed.
The accelerated timetable has strengthened criticism from those who believe FIFA is pushing ahead before carrying out meaningful consultation.
UEFA is set to hold an emergency virtual meeting on Thursday to discuss its response after learning of the latest developments.
The European governing body has already criticised FIFA’s approach after associations were informed they would have until 19 September to support the proposal or lose access to an initial $20m (£15m) payment from a promised $40m (£30m).
“We have learned of Fifa’s deadline to associations to support their proposals or have the one-off payout offer withdrawn,” UEFA said. “This says everything you need to know about this plan.”
That followed an earlier statement in which UEFA claimed FIFA had “crossed a line”.
Several national associations, including the Football Association, are said to be unhappy that details of the proposed sale of a 20 per cent stake in FIFA competitions only became public through media reports. The investment group leading the proposal is Thrive Eternal, the vehicle owned by Joshua Kushner, the brother-in-law of Ivanka Trump.
FA chair Debbie Hewitt, despite serving as a FIFA vice-president, was reportedly not informed in advance. Similar concerns have also been raised by football confederations in Asia, South America, and North and Central America.
Former FA and Manchester City chairman David Bernstein has even suggested England should “withdraw” from the World Cup if the proposals are approved.
Such a move remains unlikely, but any boycott involving UEFA members would pose a serious threat to the commercial success of FIFA’s flagship tournament.
Not every association is opposed, however. “We can see the pragmatic benefits for Czech football,” said Czech FA president David Trunda.
Fresh details reported by Sky News also reveal FIFA aims to secure as much as $4.2bn through the new venture by October. Internal documents reportedly state that the expected financial boost could help national associations increase staff salaries and “attract top talent with incentive-driven compensation.”
The proposed company, known internally as FIFA Forward Enterprise (FFE), has also fuelled speculation that it could allow Infantino to continue overseeing the World Cup’s commercial operations after his FIFA presidency ends in 2031 because of term limits.
The plan has also drawn criticism from the World Leagues Association, chaired by Premier League chief executive Richard Masters.
“Fifa’s responsibilities extend beyond the commercial success of its own competitions,” it said.
“While around 1% of the world’s professional players participate in the World Cup, the other 130,000 professional footballers and all their clubs stop competing as national league competitions come to a halt.”
It added that creating a separate company to run FIFA’s commercial activities “further highlights the conflict of interest between Fifa’s role as regulator of world football and the commercial organiser of major international competitions”.
The organisation concluded: “The World Leagues Association asks Fifa to withdraw its project and reiterates the need for a fundamental change in Fifa’s decision-making processes.”
