theguardian_business

Fifa accused of ‘selling the soul of football’ over $20bn World Cup commercial rights sale plan

📰 source: theguardian_business · 💼 business

fifa announced plans to sell commercial rights to its tournaments, including the world cup, to private investors, valuing the new entity at around $20bn. the proposal immediately drew backlash from uefa, which accused fifa of 'selling the soul of football.' fifa is working with jp morgan to create fifa forward enterprise (ffe), which would raise hundreds of millions by selling a minority stake. thrive capital, founded by joshua kushner, is leading the investor search. fifa president infantino said it would operate as a focused business, with value shared globally. uefa warned it crosses a line and will consider legal action. the plan must be approved by a majority of fifa's 211 member associations. infantino, expected to be re-elected, may chair the new company, potentially earning him millions. this follows a failed 2018 attempt with softbank.

why it matters: fifa's $20bn rights sale plan could shift football governance toward private investors, triggering a power struggle with uefa.

source: theguardian_business
sentiment: -0.60 · impact: 0.50

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'I lost $14,000 in a month': Investors hit by Korean stock market's wild swings

These charts show why stocks keep rallying. Profit margins are the highest on record

Workday shares post best day in 10 years on Silver Lake takeover report

Trade court upholds Trump's closure of 'de minimis' loophole