Real Madrid Praises UEFA for Opposing FIFA on World Cup Private Equity Proposal

Real Madrid supports UEFA on FIFA regarding the sale of World Cup shares (doc. Real Madrid).

Real Madrid praised UEFA for helping protect football after FIFA scrapped plans to sell World Cup shares to private investors.

The rejection from the three confederations prompted FIFA to abandon the controversial proposal, which was a major blow to FIFA President Gianni Infantino.

UEFA has vowed to boycott FIFA tournaments until the idea is scrapped and stepped up pressure on Infantino by saying he had lost the trust of the European Football Confederation.

UEFA is considering further action, including the possibility of triggering a vote of no confidence in Infantino, which requires the support of 43 FIFA member countries.

"Real Madrid deeply appreciates the decision taken by FIFA to cancel the proposal to sell a portion of the commercial rights of its competition."

"Our club considers this to be good news for football, for its institutions, and most importantly, for the millions of fans of our beloved sport."

"Real Madrid would like to express its gratitude to UEFA, the confederation and the federation, as well as all the institutions that have firmly and responsibly opposed this project."

"Their unity and sense of responsibility have protected football in a decisive moment," read Real Madrid's statement.

In addition to UEFA, Concacaf - which governs soccer in North, Central and the Caribbean - and the Asian Football Confederation (AFC) have also opposed the plan.

Infantino has asked for approval from national associations to set up the FIFA Forward Enterprise (FFE), a company that will oversee the commercial and operational aspects of competitions, including the men's and women's World Cups.

The most controversial element of the plan is the proposal to sell 20 percent of the shares to private investors.

Carlos Cordeiro - Infantino's senior adviser on global strategy and governance - resigned over the issue, saying the proposal was a bad deal for football and would mortgage the future of football.

FIFA's head of operations, Kevin Lamour, said FIFA's administration had been misled about the project.

"The club is the foundation where the national team football and the World Cup are built. This is what finds, trains, develops, and places the players who make it possible for these major competitions to serve the national team."

"National team football and the World Cup, above all, are events of public interest, as well as a legacy owned by the nation, fans, and society as a whole."

"Therefore, we believe that the two should not be treated as mere financial assets intended to be marketed for the benefit of a few people," Real Madrid's statement continued.