Ex-FIFA chief Blatter blasts plan to sell stake in World Cup to investors | Football News
Sepp Blatter Critiques FIFA’s Proposed World Cup Subsidiary
Former FIFA President Sepp Blatter has voiced strong opposition to the organization’s recent announcement of plans to create a $20 billion subsidiary dedicated to managing the World Cup. He contends that the prestigious tournament should not be treated as a commercial asset for the benefit of a select group of executives.
In comments to Reuters on Wednesday, Blatter, who served as FIFA president for 17 years until 2015, emphasized that “football belongs to no individual and to no institution. It belongs to the people.”
He expressed concern that if FIFA transitions into a profit-driven corporate structure, it risks losing its intrinsic values. “If FIFA were transformed into a profit-oriented entity, it would lose its soul,” Blatter stated.
FIFA announced on Tuesday its intention to establish a subsidiary to oversee the World Cup and other events, planning to offer external investors stakes of up to 20 percent. This decision has sparked significant backlash from European football governing bodies, including UEFA, who have accused FIFA of commercializing the sport.
Blatter asserted that the World Cup should not be seen as an investment opportunity for private equity firms focused on financial returns. “The FIFA World Cup is not a commercial asset that belongs to a handful of executives,” he said. “It is part of the cultural heritage of world football. FIFA is the guardian of the World Cup, not its owner.”
Reflecting on the current proposal, Blatter expressed his astonishment, noting that such a consideration would have been unthinkable during his tenure. He argued that the pursuit of profit and influence by investors contradicts the fundamental principles of football associations, which exist to serve their members’ interests.
“Modern football has survived for more than a century because it belongs to the people,” he concluded. “That principle should never change.”
