Real Madrid thank UEFA for ‘protecting football’ after FIFA abandon private equity proposal

Real Madrid has expressed gratitude towards UEFA for safeguarding football during a critical juncture after FIFA abandoned its proposal to sell stakes in a World Cup company to private investors.

The controversial plan was scrapped following opposition from three confederations, marking a setback for FIFA president Gianni Infantino.

UEFA had made it clear that it would boycott FIFA competitions unless the proposal was withdrawn, intensifying pressure on Infantino by stating he had “lost the confidence” of European football’s governing body.

Considering further actions, UEFA is weighing the option of initiating a no-confidence vote against Infantino, which would need support from 43 FIFA member nations.

In a statement, Real Madrid, the 15-time European champions, said, “We positively value FIFA’s decision to abandon the proposal to partially sell the commercial rights of its competitions.”

“This is encouraging news for football, its institutions, and especially for the millions of fans of our beloved sport.”

Real Madrid also conveyed appreciation to UEFA, the confederations, federations, and all those who responsibly opposed the project. Their unity has helped protect football at this crucial time.

Concacaf, governing football in North, Central America, and the Caribbean, along with the Asian Football Confederation (AFC), also voiced their disapproval of the plans.

Infantino aimed to get approval from national associations for the creation of FIFA Forward Enterprise (FFE), which would manage the commercial aspects of its competitions, including the men’s and women’s World Cups.

The most contentious aspect of the proposal involved selling a 20% stake to private investors.

Carlos Cordeiro, Infantino’s senior advisor on global strategy, resigned due to the controversy, labeling the proposal “a bad deal for football” that would “mortgage football’s future.”

FIFA’s chief operating officer, Kevin Lamour, remarked that the organization was “deceived” regarding the project.

Real Madrid stated, “Clubs are the bedrock of national team football and the World Cup, discovering and developing the players who contribute to these prestigious competitions.”

The club emphasized that events like national team football and the World Cup are of public interest, belonging to nations, fans, and society, and should never be treated merely as financial assets.

FAQs

What led to FIFA abandoning its proposal?

FIFA canceled the proposal due to strong opposition from three confederations and UEFA’s pressure.

What are UEFA’s next steps regarding Infantino?

UEFA is considering a no-confidence vote against Infantino, which requires support from 43 FIFA member nations.