UEFA Votes to Boycott FIFA Over Stake Sale
UEFA's 55 member countries voted to boycott FIFA competitions. This includes the World Cup.
The vote was unanimous. It would happen if FIFA sells stakes in its competitions.
UEFA held an urgent online meeting on Thursday. FIFA wants to sell up to 20% of a new $20 billion business venture.
This venture would run FIFA tournaments. Reports link the main investor to a venture capital firm tied to Joshua Kushner.
UEFA said the World Cup is not for sale. UEFA added some things are too important to sell.
The Asian Football Confederation also criticized FIFA's plan. They said FIFA did not consult them first.
Reports say FIFA offered $20 million to each of its 211 member countries. Members must accept that offer by mid-September. The unanimous vote shows strong opposition from European football groups.
Key Terms 4
- UEFA The organization that runs European football competitions.
- FIFA The organization that runs the World Cup and global football.
- stake A share of ownership in a business.
- Asian Football Confederation The organization that runs football across Asia.