UEFA to hold emergency meeting over FIFA plan

UEFA is looking to hold an emergency meeting with its 55 member associations this week to discuss FIFA's proposed sale of equity to outside investors, the BBC and ESPN reported.

On Tuesday, FIFA said it plans to create a €17.5billion subsidiary to run the World Cup and its other events and will offer stakes of up to 20% in it to external investors - a move that provoked a furious response from UEFA, which accused the governing body of putting the game's "soul" up for sale.

Under the plan, FIFA would establish FIFA Forward Enterprise to oversee "commercial and event operations".

FIFA, which just held a 48-team World Cup across the US, Canada and Mexico that was the biggest in the tournament's history, would retain control of the enterprise, but offer minority stakes in it to private investors to raise up to €3.69 billion.

Both ESPN and the BBC reported that the UEFA meeting would be virtual and would seek to work out a plan of action for the European governing body.

UEFA did not immediately respond to an emailed request for comment.

Meanwhile, England's Football Association has said it is "deeply concerned".

"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 said.

"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."

UEFA said on Tuesday that it takes the plan "extremely seriously" and that it "crosses a line that football's governing institutions should never cross".

The body questioned FIFA’s transparency and CONCACAF, the Confederation of North, Central America and Caribbean Association Football, has also criticised world football’s governing body.

"CONCACAF was only made aware of this matter through media reports and, subsequently, via a media release," it said in a statement.

"We are deeply concerned by the lack of due process.

"We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place.

"As leaders within football, we are the custodians of the game. Collectively, FIFA, the Confederations and every Member Association have a responsibility to always act in the best interests of the sport.

"Every decision we make must be guided by good governance, robust processes and long-term stewardship.

"This is the framework within which CONCACAF operates.

"We trust that all within the FIFA family will act in the same manner."

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Additional reporting: PA