Why is FIFA is 'selling' the World Cup? | Global News Podcast
The BBC's chief football news reporter Simon Stone tells us about Fifa's controversial plan to sell stock in the World Cup. Football's global governing body
The BBC's chief football news reporter Simon Stone tells us about Fifa's controversial plan to sell stock in the World Cup. Football's global governing body is registered as a non-profit. But Fifa boss Gianni Infantino has proposed a new subsidiary called Fifa Forward Enterprise (FFE), which would sell shares to private investors, and run major events including the World Cup. Fifa says the lead investor would likely be Thrive Eternal, a US venture capital firm founded by Joshua Kushner - whose brother Jared Kushner is President Donald Trump's son-in-law.
Mr Infantino has said that the individual football federations which make up Fifa stand to make an initial $20 million if they accept the plan. But Europe's UEFA - which is among the most powerful of those federations - has said the proposal "crosses a line", accusing Fifa of using football "to enrich themselves and their friends". Meanwhile British Prime Minister Andy Burnham has said Fifa is "selling out", saying that "the World Cup is not a product.
It is the greatest competition in world sport, and it was never anyone's to sell." New episodes of the Global News Podcast are published twice a day. You can listen here And you can find more of our YouTube episodes here For the latest news download the BBC News app or visit BBC.com/news #bbcnews 00:00 Introduction 00:28 Infantino’s plan for the World Cup 01:56 Fifa and Trump 02:29 The problem with Fifa’s plan 04:23 Will Fifa members support Infantino’s proposal?
07:50 Could countries boycott Fifa?
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