Concacaf rejects FIFA proposal to sell World Cup stakes to private investors

Published Jul 30, 07:31 PM UTC

Concacaf, the soccer confederation for North, Central America and the Caribbean, has formally rejected FIFA's proposal to sell minority stakes in the World Cup to private investors. All 41 member associations met on Thursday to discuss the plan, with sources indicating widespread loss of confidence in FIFA President Gianni Infantino. The rejection follows UEFA's announcement that all 55 European members would boycott FIFA competitions unless the proposal is abandoned. Concacaf's statement criticized the lack of due process, artificially short deadlines, and questioned the need for private equity investment after the most profitable World Cup in history. The confederation tasked its FIFA Council members to explore using existing FIFA reserves for development funding and to ensure proper governance processes are followed. U.S. Soccer publicly supported Concacaf's stance.