Breaking down FIFAs attempt to privatize World Cup, its scathing backlash and if it will pass

The soccer world was rocked this week by a bombshell report from The Times of London, later confirmed by FIFA, that the sport’s global governing body is attempting to privatize the World Cup.The Post works through what the proposal means, the reaction to it and whether it might happen.FIFA president Gianni Infantino wants to allow private investors to buy shares in the World Cup.That would in turn lead to a company, FIFA Forward Enterprises, being formed to run FIFA’s commercial operations, though FIFA itself — which has nonprofit status in Switzerland — would continue both as the governing body of soccer and a majority shareholder in FFE.Thrive Capital, which is run by Joshua Kushner — whose brother, Jared, is the president’s special peace envoy and son-in-law — is reportedly expected to lead the investor group.

Apollo Global Management, whose CEO Marc Rowan is both on Trump’s Board of Peace and a major campaign contributor, has also been linked as a potential investor by The Times of London.J.P.

Morgan is acting as FIFA’s financial adviser.In a letter sent to member associations, Infantino said a decision must be made by Sept.19.

The letter said that majority support is needed for adoption, though the organization’s own rules say 75 percent support is needed to change FIFA bylaws.Infantino also said that, with the private capital infusion, members would receive a total of $10 billion in funding, which would equate to about $40 million per association.Without it, that total would be $2.7 billion.The main concern is that infusing private capital into FIFA would create an incentive structure that leads to outcomes such as needless expansion of the World Cup, playing the competition every two years as opposed to every four, or hosting it only in countries with the best commercial benefits — i.e., the U.S.

and Middle Eastern nations with significant capital such as Saudi Arabia, Qatar and the UAE.All of that might also apply to the Club World ...