Will the Trump Clan Strike?
FIFA President Infantino Wants to Sell the World Cup in the Future
Of all things! FIFA President Gianni Infantino wants to privatize the World Cup in the future and even sell shares in the world’s largest tournament, raising more than four billion dollars (3.51 billion euros) in the process, as he announced. Future World Cup tournaments would then be organized under the umbrella of a new company, in which the world governing body would hold a majority stake.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen According to FIFA, private investors will be able to acquire around 20 percent of the shares in the newly established subsidiary FFE, whose value has initially been set at $20 billion (17.56 billion euros). The FFE will consolidate the commercial rights to FIFA competitions such as the Men’s and Women’s World Cups and the Club World Cup. According to a report in The Times, such a deal could increase pressure to further expand the field of participants in a World Cup or to hold the tournament more frequently than before.
According to the report, individuals close to President Donald Trump’s administration have even been contacted. The investment plans have been in the works for several months and still require approval, the “Financial Times” reported. According to the newspaper, technology investor Joshua Kushner—whose brother Jared is married to Trump’s daughter Ivanka—is in talks to lead the investment through his fund, Thrive Eternal.
Smaller Stakes for Associations
Nevertheless, FIFA would remain the majority shareholder of the company and, according to its own statements, would continue to retain control over the match schedule and all matters related to the rules and regulations. All 211 FIFA member associations are also set to receive smaller stakes in the company, which they could either retain or sell. Over the next four years, FIFA plans to invest $10 billion (8.78 billion euros) in the global development of soccer, in part with the help of the additional revenue, according to the statement.
It’s all about re-election
What’s behind this? Infantino wants to further commercialize soccer—and with it, the World Cup as the world’s largest event—and let the federations have a share of the lucrative pie—perhaps also to secure his reelection next year through 2031 and subsequently lead the new company as commissioner or CEO.
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