UEFA’s 55 member nations have unanimously voted to boycott the World Cup and all FIFA competitions over a proposed $20 billion private equity deal to sell stakes in the tournament.
Europe Threatens World Cup Walkout Over Infantino’s Private Equity Plan
UEFA, European soccer’s governing body, unanimously voted Thursday to boycott the World Cup and other FIFA-run competitions in protest of a Wall Street-style takeover of the sport, the New York Post reported, citing the organization.
“The World Cup is not for sale,” UEFA said in a statement, insisting the tournament “should never be surrendered to private investors.”
The plan, dubbed “FIFA Forward Enterprise,” would bundle broadcasting, ticketing and sponsorship rights into a private subsidiary. Thrive Eternal, a venture capital firm founded by Joshua Kushner, is reportedly positioned to lead investors and acquire a 20% stake for roughly $4.2 billion.
A European boycott would strip the 2030 World Cup of powerhouses like England, France, Spain and Germany, gutting its commercial value. European teams would still compete in UEFA-run tournaments like the Champions League.
FIFA President Gianni Infantino is offering smaller federations increased development payouts, from $8 million to $20 million, through 2030. Reps for UEFA and FIFA did not respond to requests for comment; Thrive Capital and JPMorgan declined to comment.
NEWS NOW:
