theguardian_business

A World Cup with no participants – it could be Gianni Infantino’s boldest move yet | Marina Hyde

📰 source: theguardian_business · 💼 business

fifa president gianni infantino's plan to sell stakes in the world cup to private investors is facing unprecedented opposition. the 55 nations of uefa voted unanimously to boycott fifa tournaments, including world cups, if infantino presses ahead. that would mean spain and portugal skipping their own men's world cup next time. concacaf and the asian football confederation have also voiced concern. afc head sheikh salman bin ibrahim al-khalifa said fifa's unilateral actions undermine continental football, despite human rights groups' allegations against him.

jp morgan is the bank working with fifa to raise $4.2bn through a new commercial vehicle. it previously apologised for its role in the failed european super league, saying it would learn. so far, infantino insists he will proceed. trump has not commented. the article suggests infantino's closeness to trump has led him to overplay his hand, and that his days may be numbered.

why it matters: if uefa boycotts, the world cup loses top teams, threatening its commercial value and future investor interest.

source: theguardian_business
sentiment: -0.40 · impact: 0.60

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‘Like being in prison’: the ship crews stuck in Gulf since February