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UEFA to boycott FIFA competitions over plan to sell World Cup stakes

UEFA said the boycott follows FIFA President Gianni Infantino’s offer of US$20 million to each of FIFA’s 211 members, while FIFA seeks to spin off commercial operations into a US$20 billion subsidiary with private ownership.

Reported · Written up by our desk · Trade & Tariffs

UEFA member federations agreed to boycott all FIFA competitions in protest of FIFA President Gianni Infantino’s plan to sell stakes in the World Cup to private equity investors, the European football body said after an urgent online meeting of its 55 members, according to SCMP Economy.

UEFA said it and its national associations will not participate in FIFA competitions, arguing that the World Cup “belongs to football” and is not for sale, while calling the move a failure of FIFA leadership.

The strategy meeting was held to counter Infantino’s offer of US$20 million to each of FIFA’s 211 global members, which must be accepted by mid-September, SCMP Economy reported.

SCMP Economy added that the proposal would spin off FIFA’s commercial operations in a new US$20 billion subsidiary that would be 20% owned by private investors, with a New York investment firm created by Joshua Kushner described as the core investor.

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