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UEFA’s 55 member associations voted unanimously on Thursday to boycott the FIFA World Cup and all other FIFA competitions in protest of a FIFA plan to sell a stake, reportedly up to 20 percent, in a new commercial entity that would run its flagship tournaments to outside investors.

The proposed entity would be valued at roughly $20 billion, with investors such as Thrive Capital reportedly in talks to buy in.

The vote came out of an emergency virtual meeting held Thursday, just days after FIFA president Gianni Infantino informed member federations of the plan.

UEFA said the World Cup “cannot be treated as an investment product,” arguing that the governance and integrity of the sport aren’t for sale and that no single entity, including FIFA itself, has the right to sell them.

The organization said none of its national teams will take part in FIFA competitions as long as the proposal remains on the table, unless FIFA drops the plan entirely and commits to never again opening its governance or competitions to private ownership.

The move sets up a direct confrontation between FIFA and its richest and most influential confederation. Other football bodies have also pushed back: CONCACAF criticized the plan’s lack of due process, while the Asian Football Confederation’s president called FIFA’s failure to consult member federations “totally unacceptable.”

Infantino has reportedly sweetened funding incentives for federations that approve the plan, and it still needs ratification from FIFA’s full 211-member body by a September 19 deadline. The first practical test of UEFA’s stance could come as soon as October, when Women’s World Cup play-offs are scheduled.