The Confederation African Football (CAF) has confirmed that it has received correspondence from FIFA on the proposed FIFA Forward Enterprise initiative, in accordance with the consultation process that is currently underway with FIFA member associations and the FIFA Council.
As part of this consultation process, the CAF President, Patrice Motsepe, will host a meeting of the CAF Executive Committee next week to, interalia, assess and evaluate the proposed FIFA Forward Enterprise initiative.
This FIFA Forward Enterprise initiative has faced a huge backlash and a negative reception from various football quarters. European football’s governing body Uefa and Prime Minister Andy Burnham have criticised this proposal from Fifa to seek private investment in its competitions, including the World Cup.
FIFA envisions money spinner
According to BBC, FIFA, the sport’s global governing body, said it intended to expand “football development funding” to more than $10-billion (R165-billion) and invite third-party investment in a new venture. It is claiming the plans could potentially earn FIFA president Gianni Infantino tens of millions of pounds.
In a lengthy statement outlining the proposals, FIFA says it will “invite third parties to make minority, non-controlling investments” in a new subsidiary – FIFA Forward Enterprise (FFE) − to “consolidate” its commercial and event operations. As part of its pitch, FIFA says all member associations will be able to access up to $20m (£15m) in “once-off capital” to fund development.
‘Remarkable commercial value’
Infantino said every nation should benefit from the riches football creates. “Parts of the game have turned that popularity into remarkable commercial value – and we celebrate that success and want it to continue, because it lifts the whole game,” he said.
CAF said via a statement that it is encouraging its member associations to examine the FIFA Forward Enterprise proposal and participate in the consultation process in accordance with CAF and FIFA’s regulations and established procedures.
“CAF is committed to continuing to consult and work together with its member associations, FIFA, other football confederations, and stakeholders in support of increasing financial and other resources for the development and growth of football in Africa and worldwide.”
- CAF has received FIFA’s correspondence on the proposed FIFA Forward Enterprise initiative and will consult further with its Executive Committee.
- The initiative proposes inviting third-party private investments to fund FIFA’s competitions, including the World Cup, aiming to expand football development funding to over $10 billion.
- The proposal has faced strong criticism from UEFA, political figures like UK Prime Minister Andy Burnham, and various football quarters.
- FIFA claims the initiative will allow member associations to access up to $20 million in one-off capital for development, while potentially generating significant revenue for FIFA’s leadership.
- CAF encourages its members to review the proposal and engage in the consultation process, aiming to increase resources for football growth in Africa and globally.
As part of this consultation process, the CAF President, Patrice Motsepe, will host a meeting of the CAF Executive Committee next week to, interalia, assess and evaluate the proposed FIFA Forward Enterprise initiative.
In a lengthy statement outlining the proposals, FIFA says it will "invite third parties to make minority, non-controlling investments" in a new subsidiary – FIFA Forward Enterprise (FFE) − to "consolidate" its commercial and event operations. As part of its pitch, FIFA says all member associations will be able to access up to $20m (£15m) in "once-off capital" to fund development.
Infantino said every nation should benefit from the riches football creates. "Parts of the game have turned that popularity into remarkable commercial value – and we celebrate that success and want it to continue, because it lifts the whole game," he said.
CAF said via a statement that it is encouraging its member associations to examine the FIFA Forward Enterprise proposal and participate in the consultation process in accordance with CAF and FIFA’s regulations and established procedures.
“CAF is committed to continuing to consult and work together with its member associations, FIFA, other football confederations, and stakeholders in support of increasing financial and other resources for the development and growth of football in Africa and worldwide.”
