European football's governing body, Uefa, is reportedly preparing to hold an emergency meeting with its 55 member associations this week. The virtual meeting is expected to focus on developing a unified plan of action for European football in response to Fifa's controversial proposal to sell equity stakes to outside investors.
This move follows a strong reaction from Uefa, which has accused Fifa of putting the game's "soul" up for sale. Fifa announced on Tuesday its intention to create a $20 billion subsidiary to manage the World Cup and other events, offering up to 20% stakes to external investors while retaining control.
Uefa released a statement on Tuesday criticising Fifa president Gianni Infantino’s proposed scheme, stating: “This crosses a line that football’s governing institutions should never cross.” The statement further added, “The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially.”
The proposed investment is reportedly set to be led by Joshua Kushner's Thrive Eternal fund. Fifa is working with JPMorgan to raise billions of dollars from these external investors, with Liberty Media CEO Greg Maffei involved as a commercial adviser.