October 23, 2018 / 11:44 PM / 24 days ago

Argentina FA abandons plan for outside investment in clubs

BUENOS AIRES - The Argentine FA (AFA) says it has withdrawn a proposal to permit clubs to change their ownership rules and open themselves up to outside investment.

The AFA announced last week it would put the proposal to representatives of 22 first division and 21 second tier clubs at an assembly on Nov. 29.

However, opposition to the plan was so widespread there was no sense in maintaining the ballot, officials said on Tuesday.

Argentine clubs are currently run like social clubs owned by fans and members who pay a monthly fee.

Proposals to allow outside investment have been rejected twice before but the country’s reformist president Mauricio Macri wanted to bring Argentina into line with clubs in Europe and other parts of South America.

Reporting by Ramiro Scandalo; Writing by Andrew Downie; Editing by Peter Rutherford

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