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Australia ask for more information on FIFA sell-off plan / Photo: VOISHMEL - AFP
NYSE - LSE
Australia ask for more information on FIFA sell-off plan
Football Australia on Thursday said they had asked for more details from FIFA on the proposal to sell a stake in the business operations of the World Cup so they can better understand the implications.
The world governing body announced on Tuesday a plan to create a semi-private subsidiary which would sell part of its business operations in the World Cup and other competitions, hoping to raise $4.2 billion.
It sparked a furious backlash, but Football Australia said they had been contacted by but needed more information before formulating a response.
"Football Australia can confirm it has received correspondence from FIFA regarding its latest commercial proposal," said a statement.
"As this is the first time we have been made aware of the initiative, we are now working to understand the proposal in full.
"We have requested further information from FIFA to properly assess the strategic, commercial, and governance implications of such a significant step.
"We will only be able to form a position after receiving this information and engaging in further dialogue with our peer member associations and our confederation."
The plan would have to be approved by FIFA's 38-member council and the majority of its 211 member associations.
FIFA president Gianni Infantino championed the proposal as "a golden opportunity to turbocharge the development of the game globally".
But critics, led by UEFA, said it "crosses a line" and the "soul and governance of football are not assets to trade".
B.Roman--HdM
