FIFA Succumbs to Pressure, Cancel Plans To Sell Football
By Abdulgafar Oladimeji
Football world governing body, FIFA has announced the cancellation of the plans to operate the FIFA Forward Enterprise Project.
The governing body in a statement issued through its official communication channels said “The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed.
It added that “And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.
FIFA stated that “Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place.”
The FFE project since its announcement has come under immense objections from prominent football quarters, FIFA had described media reports on the subject as inaccurate.
FIFA said “Our purpose has always been – and will always be – to unite and improve.
Adding that “As a result, this proposal will not proceed.Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support.” FIFA boss, Mr Infantino is quoted to have said.
Checks revealed that, the FFE project is aimed to raise up to $4.2 billion while valuing the new commercial arm at approximately $20 billion.
