The Confederation of North, Central America and Caribbean Association Football "CONCACAF" announced that it had not been previously informed of its international counterpart "FIFA"'s plan to sell stakes in a new entity affiliated with it to external investors, expressing "deep concern" over the failure to follow the necessary procedures in presenting the proposal.
FIFA had recently announced its intention to establish a new affiliated entity worth $20 billion that would manage the World Cup and other tournaments and events it organizes, with up to 20 percent of its shares to be offered to external investors.
Under the plan, FIFA will establish a company (FIFA Forward Enterprise) to oversee commercial activities and event organization operations.
FIFA will retain control of the new company, while offering a minority stake to private sector investors with the aim of raising up to $4.2 billion.
CONCACAF said in an official statement today, Wednesday: "We were only informed of this matter through media reports, and later through a press release, and we feel deep concern over the failure to follow the necessary procedures."
It added: "We share the disappointment expressed by many in our region and in the global football community over the preparation of this proposal in such detail and its public release before any discussion with the relevant governing bodies and stakeholders, and as leaders in the world of football, we bear the responsibility of preserving the game."
It continued: "FIFA, the continental confederations, and all member national associations bear a collective responsibility to always act in the best interest of the game, and all decisions we make should be based on good governance, sound procedures, and responsible long-term management."
It is worth noting that the proposal has sparked angry reactions from the European Union "UEFA", which accused FIFA of putting the "spirit" of the game up for sale.
UEFA is seeking to hold an emergency online meeting with its 55 member associations during the current week to discuss FIFA's proposal and develop a common position and action plan regarding it.
