Saudi government funds won’t pay for new FIFA events
KIGALI: Facing scrutiny over links to Saudi Arabia, FIFA said new competitions that will bring in US$25bil (RM104bil) will not be funded directly by any nation, according to documents seen by reporters.
FIFA Council members received the funding commitment in briefing notes sent ahead of a meeting today in Kigali, Rwanda, where president Gianni Infantino will seek their support for new tournaments.
The documents were shared with reporters on condition of anonymity because they were meant to be kept private.
“FIFA would not enter into a joint venture for this purpose, whether directly or indirectly, with sovereign wealth funds of individual states,” the documents state.
The documents do not say anything about investment from private entities linked to nation states.
Japanese conglomerate SoftBank Group Corp, which is part of the group seeking a joint venture with FIFA to sell the rights to the new competitions, has received US$45bil (RM188bil) from Saudi Arabia’s sovereign wealth fund for technology investments.
Infantino’s meetings with King Salman and Crown Prince Mohammed Salman of Saudi Arabia in the last year raised questions about the kingdom’s involvement in the overhaul of international football competitions for national teams and clubs.
Seven months after Infantino offered limited details of the financial proposition, FIFA council members have been told of principles that will be “fully adhered to in any potential future agreement” with investors in the Club World Cup and worldwide Nations League.
Investments with Saudi Arabia have become increasingly problematic for organisations since Saudi officials have been accused of killing of Saudi writer Jamal Khashoggi at their Istanbul consulate on Oct 2, circumstances that are still disputed and have caused a global uproar.
Many top Western executives and officials withdrew from an investment conference this week that is the brainchild of the crown prince, who oversees the sovereign wealth fund.
By explicitly disassociating themselves from such state backing in the document to council members, FIFA are distancing themselves from Infantino’s comment when asked at a media briefing in June whether the Saudis were backers of the project.
“Whoever invests in sport generally I think is welcome provided we do the things in an appropriate way,” Infantino said.
The proposals, which Infantino hoped to have approved by May, have stalled because of opposition within the council to Infantino’s secrecy over the financial backers.
“Football is not for sale,” UEFA president Aleksander Ceferin, who is also a FIFA vice-president, said in May.
UEFA are opposed to the new Club World Cup proposal.
“I cannot accept that some people, some of our colleagues, who are blinded by the pursuit of profit are considering to sell the soul of football tournaments to nebulous private funds.”