CONCACAF 'deeply concerned' by lack of due process in FIFA investment plan

[p]FIFA said on Tuesday that ‌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% in it ‌to external investors.[/p][p]Under the plan, FIFA would establish FIFA Forward Enterprise to oversee ‌commercial and event operations.[/p][p]FIFA, which this year held a 48-team World ‌Cup across the USA, 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.[/p][p][b]"CONCACAF was ⁠only made aware of this matter ‌through media reports and, subsequently, via a media release. We are deeply concerned ​by the lack of due process,"[/b] it said in a statement.[/p][p][b]"We share the disappointment of many within our region and the game ​that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken ⁠place. As leaders within football, ​we are the custodians of the game.[/b][/p][p][b]"Collectively, FIFA, the confederations and every member association have a responsibility to always act in the best interests of the sport. Every decision we make must be guided by good governance, robust ‌processes and long-term stewardship."[/b][/p][embed guid="f52cd8d8-e21e-46bf-9324-41401387e967" url="https://x.com/FIFAcom/status/2082162671403823201" social-type="twitter" /][p]FIFA did not immediately respond to an emailed request for comment.[/p][p]French Football Federation chief Philippe Diallo said his organisation had not been informed either.[/p][p][b]"Given its direction - specifically, as I understand, bringing investment funds into a commercial entity alongside FIFA - it obviously raises many questions," [/b]he said on French Inter radio station.[/p][p][b]"Particularly since we, the member federations, were not involved and we lack the specific information needed to weigh in on matters that are clearly fundamental to the future of football."[/b][/p][p]FIFA's ‌move also provoked a furious response from UEFA, which accused the world ​governing body of putting the game's "soul" up for sale.[/p][embed guid="ef12c995-b1d5-4eec-92ef-76ff7ff5604e" url="https://x.com/UEFA/status/2082125178440401072" social-type="twitter" /][p]UEFA is looking ‌to hold an emergency meeting with its 55 member associations this week to discuss FIFA's proposal, the BBC and ESPN reported on Wednesday, adding that the meeting would be virtual and would seek to work out a plan of action for European soccer's governing body.[/p][p]UEFA did ⁠not immediately respond to an ⁠emailed request for comment.[/p]