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How CS Breaking News Feels - Ted Lasso Deer In the Headlights
We interrupt the CS Season Previews to bring two breaking news topics -
Civil War - FIFA Forward Enterprise
See below for more
Gaffer Gone - Newcastle’s Eddie Howe
Eddie Howe walked away from Newcastle United. At the end of last season Howe agreed to return but it seems a disconnect with ownership and player retention/acquisition has changed his mind.
Enter Matthias Jaissle, previously of Al Ahli.
Great run for Howe at NU after his great run at Bournemouth. Will be opportunities for Howe, expect him back in the EPL this season.
Civil War 🎌🎌
This is a complicated topic - so we will break it down as simply as possible, realizing there is a lot of nuance, history and complexity beneath the surface.
WHAT
FIFA is a non-profit organization responsible for the global governance of soccer, everything sits underneath it, with the mission of overseeing the sport’s development at all levels. This includes organizing competitions (World Cup), promoting soccer globally, accessibility for all, advocating for integrity and fair play.
This week FIFA, kinda out of the blue, announced their intention to create an entity called FIFA Forward Enterprise (FFE), a FOR PROFIT arm of FIFA. FFE would handle the financial functions of FIFA - revenue generating activities, media, tickets, licensing, sponsorships - and be responsible for maximizing financial opportunity that would then fund FIFA and its affiliates (all the national teams and clubs in the world).
FIFA is valued at $20B. The intention is to “sell” 21% of the “company” to external investors, roughly $4.2B. FFE would be a non-controlling share of FIFA. It’s believed this generated revenue would significantly increase the “per club” payouts by over 4X.
FIFA’s head, Gianni Infantino can’t just implement this. He needs a majority of the 211 associations to vote to do it.
CONTEXT MATTERS
Basically, all professional soccer clubs - national & club - are governed by FIFA. Yet, each alone is a “huge” entity with their own goals, missions, desires, pros/cons. UEFA is the biggest, not just by number of associations but by ability to generate revenue. They have A LOT of influence.
PROCESS v IDEA
UEFA, maybe most of CONCACAF and others are losing their sh*t over this announcement for primarily 2 reasons.
Process
The confederations and associations were not consulted on the decision.
In September, FIFA has payments going to the Associations. Gianni announced associations need to decide if they agree with FFE. If they do, they get a $40M payment as a result. If they do not, they get the planned $10M. People are calling this a “legal bribe”.
March 2027 is the official vote, but the money decision is 6 months before that.
The feel there is no time to actually think it through.
Concern there are a majority of “less valuable Associations who will go for the early pay out.
Idea
Many believe the idea of separating the financial administration from the rest is a good thing, but not with External Investors, who will then dictate the rules of soccer going forward.
External Investors expectations become the deciding factor in decision making - the Calendar, competition formats, shaping the future of soccer overall - every decision is driven by what is best for the shareholders, not what is best for the game.
The interests of national associations, leagues, clubs, players and supporters cannot become subordinate to investor returns.
STAKEHOLDER VALUE - FINANCIAL v SOCIAL MISSION
Have seen this A LOT in the business world. There are HUGE differences in how organizations are structured and run based on their mission and requirements to their stakeholder/shareholders.
FOR PROFIT organizations have 1 responsibility, maximize shareholder value primarily measured financially first (second and third).
NON-PROFIT organizations have 1 primary responsibility, maximize stakeholder value in relation to their SOCIAL MISSION.
This is one of the big issues with FIFA right now. They have a NON PROFIT organization with a Mission that is not defined in financial terms but they see the financial value they can create that can support their mission, and even help it to thrive, by generating significantly more revenue.
FIFA wants to have one foot in each boat, NON-PROFIT & FOR PROFIT.
The idea makes sense, BUT there is VERY LITTLE trust among the confederations that FIFA will not corrupt the system.
CIVIL WAR
FIFA has 6 confederations, one of them with much more influence (UEFA) than the others and they have significant history in fighting/disagreeing with each other.
UEFA has a “football if for everyone” view, and rightly so. They feel they need to protect the sanctity of the sport and they have the interest and financial ability (ironically) to drive decisions within FIFA.
UEFA quickly assembled their leadership team and came out with a statement endorsed by ALL 55 Associations
CONCACAF also quickly assembled and they announced all 41 members rejected the proposal. In reading it, it felt less “emphatic” than UEFA’s. It was very strong against the process, less strong against the idea of FFE. They would like their FIFA representatives to engage with FIFA to discuss options.
UEFA announce they will boycott FIFA (their boss so to speak).
“We unanimously and unequivocally reject FIF’s proposal…The World Cup cannot be treated as an investment product…It is not for sale…And as a result, NO UEFA NATIONAL TEAMS WILL PARTICIPATE IN ANY FIFA COMPETITION FOR AS LONG AS THE PROPOSALS REMAIN ALIVE…..”
FIFA & GIANNI FACTOR
Let’s face it, FIFA and corruption go hand in hand. We know of bribery, racketeering, money laundering. The former head of FIFA being removed and FIFA declaring they are cleaning shop. Qatar, South Africa, Russia, Brazil - all questions.
Now look at the Club World Cup in 2025 and World Cup in 2026. Gianni has been criticized to the hilt for trying to commercialize “the beautiful game”. Is he corrupt, I guess it’s in the definition of “corrupt” on an international scale. One reporters’ definition of corruption is another’s lunch meeting. But what is clear is the reputation of FIFA and Gianni is money seeking, corruption - in the name of growing the game.
Also, we heard a lot about Gianni jet setting across the continent during the 2026 World Cup. He seems to love the spotlight. Love the elbow rubbing. The private jet club.
Did you know, the head of FIFA is voted in and can only serve 3 terms. BUT, if you create FFE, you make yourself CEO wen your FIFA term is up and continue doing all the things you love about the job, run the financials.
Not saying that is what is happening, but it is something to think about.
TRUMP FACTOR
Add to all of this the fact the USA just hosted the World Cup and Gianni looked buddy buddy with Trump. The Media are very quick to point out how FIFA is already making “the beautiful game” too commercial.
The commercialism of the USA
Peace Prize
Hydration breaks
Balogun Red Card reversal
Thumb on the scale in favor of Argentina and Messi
In addition, it is reported that JP Morgan and Thrive Eternal Fund will be involved in the FFE. The Thrive Fund is part of Thrive Capital. Thrive Capital is in part owned by a Kushner, the brother of Jared Kushner, the son-in-law of Trump.
From what I can tell, we have no idea the impact or direct impact of Trump on this situation. What is clear is Gianni has had this in the works for a long time, and one has been reporting on it.
Feels like anyone reporting on it now puts the name “Trump” in the headline to illicit a reaction and to get people to feel something without any of the actually details even needed to be understood.
CS TAKE AS OF TODAY
FIFA & Gianni completely botched the process, probably.
Just like ALL high revenue generating sports - the financials need to be maximized, managed & distributed.
FFE on the surface is a good idea.
External Investors are very questionable.
Gianni wants to play a big role with FIFA in the future.
UEFA has the biggest influence and financial impact on soccer, they feel their world view should win the day for the good of the game.
Many other Associations feel they could use the money better to help them grow the game outside of Europe.
Gianni didn’t announce this without already getting a feel for what a vote would look like.
UEFA response is like going to the mattresses.
The irony is not lost that UEFA has the most revenue in all their clubs and programs, but they want to govern money and not maximize it “for the good of the game”.
There are some really good media sources that are providing facts, angles and information.
There are some NOT good media outlets driving their agenda and ideology.
Any media source or poster who start with “Trump” - ignore - it’s for attention and it’s all opinion.
Saw this over and over again in the business world - different stakeholder have different priorities and this is like trying to herd cats. Many want to maximize revenue to drive development around the world. Many want to preserve their vision for the beautiful game. Many have their own agenda they are trying to drive by leveraging the public debate and feud and have neither revenue or “good of the game” in mind. Just put your critical thinking hat on and try to read through the lines.
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