Gianni Infantino has abandoned FIFA’s controversial plan to sell a stake in the World Cup to private investors, a dramatic U-turn in the face of fierce opposition from national federations and clubs.
The FIFA president confirmed in an official statement that the “FIFA Forward Enterprise” project, which would have created a commercial subsidiary to house the World Cup’s money-making arms and open the door to outside capital, will not proceed.
“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that… are no longer in the interest of the objective set out in the first place,” Infantino said, insisting his aim had always been “to unite and improve.”
FIFA boss Infantino retreats after UEFA and clubs oppose World Cup sell-off
The reversal follows a ferocious backlash. UEFA’s 55 member federations, Italy among them, had vowed to boycott the World Cup and all FIFA competitions if the plan went ahead, while confederations in North America and Asia also rejected it and a senior adviser, Carlos Cordeiro, resigned in protest.
The proposal had reportedly sought to raise around $4.2bn from investors, led by a group fronted by Joshua Kushner, for a roughly 20% stake in an entity valued at $20bn.
Infantino, who framed the project as a means of strengthening smaller federations, now says he wants to “bring together all interested parties” in the coming weeks. For now, though, football’s showpiece is off the market.
Source: Football Italia
