CONCACAF Rejects FIFA Private Investment Proposal

The organization, which represents the U.S. and 40 other national soccer teams, questioned the need for private equity investment.

WCup-FIFA-Investors

Union of European Football Associations and its president, Aleksander Ceferin, left, voted to boycott international competitions hosted by FIFA after its leader, Gianni Infantino, right, proposed selling private shares in the organization. Fernando Calistro/AP

CONCACAF, the federation in charge of North American soccer, rejected on Thursday FIFA President Gianni Infantino’s announced plans to allow private investors to buy stakes in the World Cup.

The organization — which represents 41 member associations mainly in North America, Central America and the Caribbean — said it questioned the need for private equity investment following “the most profitable FIFA World Cup in history” in member nations Canada, Mexico and the United States this year.

CONCACAF said it’s tasking its council members with ensuring these plans follow “proper governance processes.” The organization said on Wednesday that it had only been made aware of the plans through media reports.