FIFA has ditched its controversial plan to sell a slice of the World Cup to private investors, folding under intense pressure from member associations who accused the governing body of putting the game’s soul up for auction.
President Gianni Infantino confirmed the climbdown on Friday evening, just days after the proposal first surfaced. The scheme aimed to raise up to $4.2 billion by selling roughly a 20 percent stake in a new commercial unit that would oversee FIFA’s competitions, including the World Cup.
“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” Infantino said in a statement. “Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
The idea had been sold as a way to unlock billions for football development worldwide. FIFA floated the creation of a $20 billion subsidiary, FIFA Forward Enterprise, and pointed to Thrive Eternal — a fund linked to Thrive Capital founder Joshua Kushner — as the lead investor. Kushner is the brother of Jared Kushner, son-in-law of U.S. President Donald Trump. Infantino had sweetened the pitch by promising each of FIFA’s 211 member associations $40 million if they backed the plan by mid-September.
That sales pitch landed with a thud.
UEFA’s 55 nations voted unanimously on Thursday to boycott all FIFA tournaments unless the plan was killed, declaring the World Cup “cannot be treated as an investment product.” CONCACAF, representing 41 associations across North and Central America and the Caribbean, rejected it the same day. On Friday the Asian Football Confederation and its 47 members piled on, declaring solidarity with UEFA and CONCACAF. Together those three confederations control 143 of FIFA’s 211 votes, more than enough to sink the proposal.
Internal dissent spilled into the open too. Senior adviser Carlos Cordeiro resigned immediately, branding the deal “a bad deal for football.” FIFA’s chief operating officer Kevin Lamour accused staff of being “deceived,” calling the project “a project of one person.”
Infantino, who faces re-election next year and is already dealing with whispers of a possible challenge from CONCACAF president Victor Montagliani, insisted the governing body’s focus remains on growing the game, especially in nations that need support most. Whether this climbdown soothes the deep fractures exposed this week is another question entirely.
A story of courage, wonder, and the transformative power of self-belief; perfect for readers aged 10+ who love adventure. To place order: +234 806 130 3237 | +234 803 582 0870 OR Tap the link to grab a copy:https://www.zeekapublish.com/product/the-magical-life-of-anna
