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FIFA Offers Member Nations $40 Million To Back Controversial Investment Plan
['Richard Ogunsile', 'Author']
Naija News
The Fédération Internationale de Football Association (FIFA) President, Gianni Infantino, has offered up to $40 million (£30m) to the world football governing body’s 211 member associations that support his controversial proposal to sell minority stakes in some of FIFA’s biggest competitions.
Under the proposal, FIFA would create a new commercial subsidiary known as FIFA Forward Enterprise.
FIFA said the initial funding for the payments to member associations would come from “liquidating a minority portion” of its stake in FIFA Forward Enterprise.
UEFA’s 55 member associations are expected to hold an emergency meeting later this week to discuss the proposal.
With FIFA seeking approval from its 211 member associations by September 19, the proposal is likely to remain a major subject of debate in world football in the coming weeks.