Miami, USA – The Confederation of North, Central American and Caribbean Association Football (CONCACAF) criticized FIFA’s recently announced investment plan, asserting that it was not consulted before its release and expressing concerns about the mechanism by which it was presented.
FIFA had unveiled a project to create a new commercial entity valued at about $20 billion, which would manage the commercial rights for the World Cup and a number of its tournaments and events. It also offered up to 20% of its shares to private investors.
According to the plan, FIFA will establish a company called “FIFA Forward Enterprise” to manage commercial activities and organize events, with the international federation retaining a controlling stake. This will be achieved by selling a minority stake with the aim of raising approximately $4.2 billion.
CONCACAF said in an official statement that it learned of the proposal through media reports. It later received a press release from FIFA, adding: “We are deeply concerned about the lack of due process in this matter”.
He added: “We share the disappointment of many parties within our region and in the global football community, after this proposal was prepared and announced before any consultations were held with the continental federations or relevant authorities”.
The federation stressed that football leaders have a responsibility to protect the future of the game, emphasizing that major decisions must be based on the principles of good governance and responsible management, in the long-term interest of football.
CONCACAF’s statement comes after a wave of criticism directed at the project, most notably from UEFA, which considered the plan to be putting “the spirit of the game” on the investment table.
