BENGALURU (April 12): Japanese conglomerate SoftBank Group is part of a consortium of investors that are planning a US$25 billion move to create international tournaments for soccer’s governing body FIFA, the Financial Times has reported.
The report said the group, which includes investors from the United States, Saudi Arabia and China, were discussing proposals to expand the Club World Cup along with the creation of a new league competition for national teams.
The Club World Cup is an annual competition that sees seven clubs, usually winners of their continental tournaments, compete in a knock-out event. Spain’s Real Madrid have won three of the last four editions.
The report said FIFA would have a 51% stake in the venture.
SoftBank declined to comment on the report.
The New York Times reported this week that FIFA President Gianni Infantino told his top board last month that a fund of investors from the Middle East and Asia wanted to pay about US$25 billion to buy an expanded version of the Club World Cup as well as the rights to a proposed global league for national teams.
Source: The Edge