00:01World football's governing body FIFA has vowed to press ahead with a controversial
00:06private investment plan, despite widespread opposition to the proposal.
00:11On Thursday, Europe's football union UEFA declared it would boycott future FIFA World
00:17Cup competitions if it went ahead with Gianni Infantino's plan.
00:21Later, North and Central America's CONCACAF shared that all 41 of its member associations
00:27also rejected FIFA's proposal to sell a stake in the business operations of the World Cup.
00:33Infantino's project was announced on Tuesday when he wrote to members that if they approved
00:37of the proposed FIFA Forward Enterprise Commercial Subsidiary, 20% owned by private investors,
00:43their funding would double to $20 million for the next four years.
00:48Infantino has proposed FFE would run events such as the World Cup and Club World Cup.
00:53The core investor would be a New York investment firm created by Joshua Kushner,
00:58the brother of U.S. President Donald Trump's son-in-law Jared Kushner.
01:02While FIFA said it would go ahead with the consultation process for the proposal,
01:07it appears to then back off from the commercial subsidiary,
01:10saying without the support of its 211 member associations, FFE would not be established.
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