Saudi investors, SoftBank said to be part of $25 bln FIFA shake-up plan

Japanese conglomerate SoftBank Group is part of an international consortium of investors that are planning a $25 billion move to create global football tournaments for the governing body FIFA, the Financial Times reported.

The group includes investors from China, Saudi Arabia, the US and the United Arab Emirates, unnamed sources with knowledge of the offer were quoted as saying.

According to the report, some of the people said the consortium was being assembled by Centricus, a UK-based group whose founders helped SoftBank raise funds to create its $100 billion Vision Fund.

The group was also said to be discussing proposals to expand the Club World Cup along with the creation of a new league competition for national teams, the report said.

The Club World Cup is an annual competition that sees seven clubs compete in a knock-out event.

The report said FIFA would have a 51 percent stake in the venture.