0:00
Now to a stunning development that has
0:02
sparked a huge row between football's
0:04
two big governing bodies. It centers on
0:07
FIFA's plans to raise billions of pounds
0:09
by seeking private investments in its
0:11
competitions like the World Cup via a
0:13
minority stake in a new commercial
0:15
property. Well, UEFA have hit back
0:18
claiming FIFA have crossed a line and
0:20
that the soul and governance of football
0:22
are not assets to trade. Well, reports
0:25
claim that the proposals could
0:27
personally earn FIFA President Jeani
0:29
Infantino millions of pounds if approved
0:31
by FIFA's 211 member associations. Now,
0:35
FIFA have dismissed suggestions that
0:37
Infantino could become chief executive
0:39
of the new entity called the FIFA
0:41
Forward Enterprise when his final term
0:43
as president ends. They say such a move
0:46
has never been discussed. Under the
0:48
proposal, up to3.1 billion pounds would
0:51
be raised from investors valuing FFE at
0:53
around 15 billion pounds. Thrive
0:56
Capital, whose chief executive is Josh
0:58
Kushner, the son-in-law of Donald Trump,
1:01
is expected to lead the proposed
1:02
investor group. And FIFA added that
1:05
Kushner is not an investor.
1:08
>> This is what FIFA has confirmed. They
1:10
are looking to create a venture to
1:13
oversee all of FIFA's commercial
1:15
operations that could be worth 20
1:17
billion, so around 15 billion pounds.
1:20
And they want to raise, they say,
1:22
initially $4.2 billion from external
1:26
investors. UFA have complained about a
1:28
lack of transparency linked to that. JP
1:31
Morgan, the bank, is involved in
1:34
overseeing some of these plans. Also,
1:36
we're told, is Thrive Eternal. Now that
1:40
is expected to uh lead the proposed
1:42
investor group for the entity that would
1:44
be called FIFA FIFA Forward Enterprise.
1:47
The CEO of Thrive Eternal is Josh
1:51
Kushner. He is the brother of Donald
1:55
Trump's son-in-law Jared Kushner. And
1:57
this will raise further questions about
1:59
the links between Jan Infantino and
2:01
Donald Trump. But how FIFA are pitching
2:05
this is about making more money
2:07
available to all the 211 FAS around the
2:10
world to fund the game. So currently
2:13
they are projected to have access to $8
2:16
billion over the next four years. FIFA
2:18
are saying that this new commercial
2:20
venture could give them access to 20
2:22
billion over the next four years to 2030
2:25
and rising. That's if it gets off the
2:29
Well, UEFA have not held back in their
2:32
criticism of the proposal. In a
2:34
statement, European football's governing
2:35
body has said this. This crosses a line
2:38
that football's governing institutions
2:40
should never cross. UEFA takes it
2:42
extremely seriously. So should every
2:45
national football association. So should
2:47
every stakeholder, leagues, clubs,
2:50
players, supporters, governments, and
2:53
everyone who cares about the future of
2:55
the game. The soul and governance of
2:58
football are not assets to trade,
3:00
especially with zero transparency as to
3:03
who gains financially. None of us are
3:06
the owners of football. It is not FIFAs
