FIFA announced plans this week to establish a $20 billion subsidiary to manage the World Cup and its other events, proposing to offer up to 20% ownership stakes to external investors. This move has sparked strong criticism from regional football confederations, who said they were blindsided by the plan to introduce private investors into the sport.

FIFA President Gianni Infantino responded to the backlash by emphasizing that the plan is a proposal, not an obligation. In a video statement released on Wednesday, Infantino described the initiative as part of a democratic consultation process and an opportunity rather than a mandatory action.

"It’s part of a democratic process – a consultation process – and, above all, it is an opportunity but not an obligation, and, as I said, it kicks off the consultation process," Infantino said.

He also noted that strengthening the commercial side of football is a natural progression in the sport's evolution.

The announcement comes amid other notable developments in global sports, including the Indian Premier League's business value soaring to $20 billion and Lionel Messi's return to MLS training 10 days after the World Cup final.

Sources