Asia becomes the third major confederation to reject FIFA’s investment proposal By FAIZAL KHAN July 26 (ESPN) – The Asian Football Confederation (AFC) has joined UEFA and CONCACAF in rejecting a proposed FIFA investment initiative, further entrenching disagreement within the sport on plans that many argue could redefine its commercial governance. AFC announced its stance after a meeting of its Executive Committee said it had concerns with the proposal’s governance, transparency and long-term impact on world football administration.
The confederation said that any investment involving the marketing assets of FIFA ought to be subject to thorough consultation with all member associations and continental bodies.
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The latest development sees three of FIFA’s six continental confederations rebelling against the plan.UEFA and CONCACAF had earlier cast doubt on the project, stating that the significant structural and financial matters concerning the world of football need to be handled transparently, inclusively, while guarding the interests of all national football associations.
The proposed investment plan, understood to have been discussed as part of an idea of securing external funding for FIFA-hosted events and commercial business, comes as FIFA looks to increase resources for global development of the sport. But critics warn of potential outside influence over important parts of football management.
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AFC stated it would support moves to grow the sport, but insisted that any reform must preserve the integrity, autonomy, transparency and integrity of FIFA and safeguard the interests of its 211 member associations. AFC will remain involved in constructive dialogue with FIFA and stakeholders.
The move by three of the main continental football governing bodies has turned out to be a crucial turning point, putting further obstacle in FIFA’s quest to seek consensus.
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The initiative also has implications for how major football event, be it local or global events, and for commercial business ventures globally managed in the future.
