The Confederation of African Football (CAF) has announced that it will assess FIFA’s proposal to allow private investors to acquire stakes in the commercial operations of the FIFA World Cup and other major competitions.
In a statement released on Wednesday, CAF said its president, Patrice Motsepe, will hold discussions with the Confederation’s Executive Committee next week to review the proposal and establish Africa’s position on the matter.
The African football governing body added that its member associations would also take part in the consultation process in accordance with FIFA and CAF regulations.
“CAF also encourages its Member Associations to examine the FIFA Forward Enterprise proposal and participate in the consultation process in accordance with CAF and FIFA’s regulations and established procedures,” the statement partly reads.
“CAF is committed to continue consulting and working together with its Member Associations, FIFA, other Football Confederations and stakeholders in support of increasing financial and other resources for the development and growth of football in Africa and worldwide.”
The development comes after FIFA revealed plans to create the FIFA Forward Enterprise (FFE), a new commercial subsidiary that would manage the business operations of its major competitions, including the FIFA World Cup.
Under the proposed arrangement, FIFA would maintain majority control of the entity while seeking to generate about $4.2 billion later this year through the sale of minority, non-controlling stakes to selected long-term investors.
The proposal has sparked significant reactions within the football community worldwide.
Reports by British newspaper The Times suggested that FIFA President Gianni Infantino could take up the role of commissioner of the new commercial entity after his current tenure ends in 2031. The reports also identified venture capitalist Joshua Kushner and an investment arm of JPMorgan Chase as possible investors.
Several football organisations have raised concerns over the move. UEFA stated that the FIFA World Cup is “not an asset to trade,” while European Union Sports Commissioner Glenn Micallef called on FIFA to keep “hands off our game.”
Football bodies across Europe, South America, North America and Asia have also criticised the process, claiming they were not consulted before the proposal was made public.