FIFA president Gianni Infantino set a Sept. 19 deadline on Wednesday for the 211 member federations to approve his proposed private investment plan, which would give each association access to up to $40 million in funding.
The Times (of London) first reported the news of the letter to member federations.
The letter to member federations follows a backlash to the plans, with sources telling ESPN that UEFA is considering options, including a potential World Cup boycott, over what it described as a lack of consultation and governance.
Infantino writes in the letter that a $10 billion funding package would be available if the plan is approved, compared with $2.7 billion if it is rejected.
Infantino set out the “singular and unique funding opportunity” in a letter detailing why he wants to create a $20 billion FIFA subsidiary — 20% owned by private investors — that would run the football body’s competitions and events such as World Cups and Club World Cups.
The proposal is backed by Thrive Capital, the investment firm founded by Joshua Kushner. Joshua Kushner is the brother of Jared Kushner, the son-in-law of U.S. President Donald Trump.
“It is my duty and responsibility as FIFA president to present such game-changing opportunities to you, our members,” Infantino wrote in the letter seen by The Associated Press.
“Should you wish to proceed this $10billion package will become available as of January 1, 2027, ushering in the next phase of our journey together.
“Should you wish to retain the status quo and reject this proposal we still have our planned expansion of the Forward programme [development money] of $2.7billion as previously presented.
“In total for the upcoming cycle starting as of January 1, 2027 each member association will have the possibility of access up to $40million per member association under this proposal.”
The total comprises up to $20 million in one-off Fast Forward funding and $20 million in FIFA Forward development funding for the 2027-30 cycle.
UEFA, which is expected to call its 55 member federations to an emergency online meeting, likely on Thursday, issued a statement reacting to the $20m one-off offer.
“Today we have learned of FIFA’s deadline to associations to support their proposals or have the one-off payout offer withdrawn. This says everything you need to know about this plan,” UEFA said on Wednesday.
“But having held discussions with many stakeholders across the game, UEFA knows there is significant and growing opposition to FIFA’s scheme. FIFA cannot continue to use our sport to enrich themselves and their friends. We can grow the game correctly. It’s time to prioritise associations, clubs, leagues, players and fans.”
The Football Association and Concacaf have both said they are “deeply concerned” by FIFA’s plan to sell stakes in its major competitions.
On Tuesday, UEFA insisted the World Cup is not an “asset to trade.”
“We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached,” the FA added in a statement Wednesday.
“Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.
“When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear, and comment further.”
Information from The Associated Press, PA and ESPN’s Mark Ogden was used in this report.
