UEFA has expressed a significant loss of confidence in FIFA’s leadership under President Gianni Infantino. This follows his attempt to involve private equity in managing the World Cup. UEFA declared that no options are off-limits as it fully reviews the now-scrapped proposal.
Infantino had suggested forming a $20 billion company to manage the World Cup with private investors. This proposal, announced on Tuesday, quickly met with escalating pushback. The opposition included key figures such as a senior adviser on a White House panel and the soccer bodies of Asia, North America, and Europe.
“We must identify those responsible and hold them to account,” UEFA said.
UEFA, led by Aleksander Čeferin, strongly criticized FIFA’s leadership. The organization called for transparency and accountability. UEFA emphasized that secretive and dubious schemes do not benefit the sport.
In the upcoming weeks, UEFA plans to collaborate with its associations and other confederations. The goal is to understand the circumstances leading to this proposal and ensure similar plans do not occur again.
On Thursday, UEFA’s 55 member nations decided to boycott the World Cup and other FIFA events due to Infantino’s proposal. North America’s CONCACAF and the Asian Football Confederation also opposed the plan.
Carlos Cordeiro, Infantino’s senior adviser and former Goldman Sachs banker, publicly resigned on Friday. He encouraged other FIFA senior staff to voice their concerns, expressing his disapproval of selling World Cup stakes.
“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro stated.
Kevin Lamour, FIFA’s chief operating officer, later acknowledged deceiving FIFA staff regarding the transparency of Infantino’s plan. He urged the organization to stop the project.
Infantino’s idea was to spin off FIFA’s commercial activities, like World Cups, into a $20 billion subsidiary. Private investors would own 20%, with a key investor being a New York-based firm led by Joshua Kushner.
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