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UEFA to hold emergency meeting with members over FIFA private investment plan, BBC reports
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UEFA to hold emergency meeting with members over FIFA private investment plan, BBC reports July 29 : UEFA is looking to hold an emergency meeting with its 55 member associations this week to discuss FIFA's proposed sale of equity to outside investors, the BBC and ESPN reported. On Tuesday, FIFA said it plans to create a $20 billion subsidiary to run the World Cup and its other events and will offer stakes of up to 20 per cent in it to external investors - a move that provoked a furious...
UEFA to hold emergency meeting with members over FIFA private investment plan, BBC reports
July 29 : UEFA is looking to hold an emergency meeting with its 55 member associations this week to discuss FIFA's proposed sale of equity to outside investors, the BBC and ESPN reported.
On Tuesday, FIFA said it plans to create a $20 billion subsidiary to run the World Cup and its other events and will offer stakes of up to 20 per cent in it to external investors - a move that provoked a furious response from UEFA, which accused the governing body of putting the game's "soul" up for sale.
Under the plan, FIFA would establish FIFA Forward Enterprise to oversee "commercial and event operations."
FIFA, which just held a 48-team World Cup across the U.S., Canada and Mexico that was the biggest in the tournament's history, would retain control of the enterprise, but offer minority stakes in it to private investors to raise up to $4.2 billion.
Both ESPN and the BBC reported that the UEFA meeting would be virtual and would seek to work out a plan of action for the European soccer governing body.
UEFA did not immediately respond to an emailed request for comment.