FIFA’s private equity push opens new front in decades-old power-struggle with Europe

MELBOURNE, July 29 : FIFA’s push to open the World Cup to private equity marks a dramatic attempt to reshape the commercial landscape of global soccer, while opening a new front in a long-running battle with Europe for power and control over the massive wealth generated by the sport.The global governing body led by Gianni Infantino plans to create a $20 billion subsidiary to run the World Cup and other FIFA events, offering stakes of up to 20 per cent to external investors in a move condemned by UEFA as putting the game's "soul" up for sale.Infantino, who is up for reelection as head of FIFA next year, cast the move as pushing global "democratisation" in the sport by broadening access to its financial largesse.The proposal offers member associations access to $20 million in immediate fundi