The African Football Confederation "CAF" announced on Wednesday that it had received correspondence from its counterpart, the International Federation "FIFA", regarding the proposed FIFA initiative, according to the ongoing consultation process with FIFA member associations and the FIFA Council.
CAF explained in its statement that, as part of this consultation process, CAF President Patrice Motsepe will host a meeting of the African Confederation's Executive Committee next week, in order to evaluate the project of FIFA President Gianni Infantino regarding allowing private investments within FIFA, among other things.
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CAF stressed that it encourages its member associations to study the FIFA proposal and participate in the consultation process in accordance with the regulations and procedures in force at the African Confederation and the International Federation.
The African Confederation is committed to continuing consultation and working with its member associations, FIFA, other football federations, and stakeholders to support the increase in financial and other resources needed for the development and growth of football in Africa and the world.
FIFA had announced its desire to establish a new entity affiliated with it worth $20 billion that would manage the World Cup and other tournaments and events it organizes, with up to 20 percent of its shares offered to external investors, and it would establish the "FIFA Forward Enterprise" company to oversee commercial activities and event organization operations.