UEFA Welcomes FIFA's Reversal on Investment Plan

The Union of European Football Associations (UEFA) welcomed the decision by the International Federation of Association Football (FIFA) to abandon its plan to sell a stake, to private investors, in a newly created company that would organize tournaments, including the World Cup.

In a statement, UEFA described the withdrawal of the proposal as the right move. It also announced that in the coming days and weeks, it will work with member associations and other continental confederations to analyze how the situation came about.

UEFA said it also intends to develop a procedure to ensure that similar proposals cannot be pushed through in the future without prior consultation with partners and stakeholders.

(Reuters, bak)