UEFA accuses FIFA of 'selling football' with World Cup investment plan

FIFA said Tuesday it plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a semi-private subsidiary. World football's governing body said it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests". FIFA's statement was a rapid response to a story in British newspapers The Times and The Financial Times based on leaks of the plan from two sources. The Times reported that FIFA president Gianni Infantino, 56, stood to profit from the scheme by becoming commissioner of the FFE after his expected next term expires in 2031. FIFA denied that this had been discussed. The article also said discussion had started with financial advisors and potential investors. Those include Thrive capital, an investment company founded and led by Joshua Kushner, brother of US President Donald Trump's son-in-law Jared, as well as an arm of JP Morgan Chase, the US bank that attempted to finance the failed breakaway European Super League. Sepp Blatter, Infantino's disgraced predecessor, drew atten...