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00:02European soccer governing body UEFA said Thursday it will boycott FIFA competitions,
00:08including the World Cup, if FIFA moves forward with plans to sell a stake in a new commercial
00:13entity to private investors, according to CNBC. FIFA proposed selling a 20% stake in FIFA Forward
00:20Enterprise, which would oversee its commercial and event operations and raise up to $4.2 billion
00:26from private investors, drawing widespread backlash. UEFA said its member nations would
00:32boycott FIFA competitions unless the private investment proposal is permanently cancelled,
00:37arguing that financial interests should not dictate soccer's future.
00:41The proposed FIFA deal drew scrutiny over Infantino's ties to President Trump,
00:47because a firm founded by Jared Kushner's brother is expected to lead the investor group.
00:52UEFA said its national teams will boycott all FIFA competitions until the proposal is fully
00:58abandoned, and FIFA guarantees it will never allow private ownership of its governance or competitions.
01:03For all things money, visit Benzinga.com.
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