11h 10m

UEFA Approves Boycott as Infantino Pushes $4.2B Sale of World Cup Stakes, Risking Europe Withdrawal

UEFA's 55 members have approved an immediate boycott of FIFA tournaments if Gianni Infantino's plan to sell 20 percent of a new FIFA commercial subsidiary for $4.2B proceeds, a decision that would exclude Europe’s leading national teams from the World Cup and other events.Two other continental federations and the Asian Football Confederation have publicly refused to support the transaction, and critics point to a primary investor linked to Joshua Kushner and JP Morgan's role in structuring the $4.2B raise, comparing the model to the failed European Super League and raising conflict-of-interest concerns because the plan would position Gianni Infantino to chair the new company after his FIFA term ends.FIFA says the vote on the deal and Gianni Infantino's re-election will proceed and that the proposal will deliver cash to member associations, but UEFA is pursuing legal and competition contingencies and broadcasters, sponsors, and national associations are racing to assess exposure and alternatives.
Tags
Read more
Discuss