FIFA has abandoned plans to sell a stake in the World Cup to private investors after widespread opposition from member associations forced the governing body to withdraw the proposal.
FIFA President Gianni Infantino announced on Friday that the proposal would not go ahead after facing strong resistance from football bodies across the world.
The plan aimed to raise up to $4.2 billion by selling about a 20% stake in a new unit that would manage FIFA competitions, including the World Cup.
The proposal, announced on Tuesday, immediately drew criticism. UEFA threatened to boycott FIFA tournaments and accused the governing body of putting the sport’s “soul” up for sale.
“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 on Friday evening.
“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
FIFA had argued that selling the minority stake in its commercial operations would generate billions of dollars to fund football development worldwide. It also accused the media of mischaracterising the proposal.
Infantino had written to member associations, telling them they would each receive $40 million if they approved the proposal by September 19.
“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support,” Infantino said.
Opposition to the proposal gathered pace throughout the week.
On Thursday, UEFA’s 55 member associations unanimously voted to boycott all FIFA tournaments unless the proposal was withdrawn, saying the World Cup “cannot be treated as an investment product.”
CONCACAF, which represents 41 member associations across North America, Central America and the Caribbean, also rejected the proposal during a meeting on Thursday.
On Friday, the Asian Football Confederation, with 47 member associations, declared it “stands in solidarity” with UEFA and CONCACAF.
Together, UEFA, CONCACAF and the AFC represent 143 of FIFA’s 211 member associations, well above the majority required for the proposal to pass.
The disagreement also spread within FIFA.
Senior adviser Carlos Cordeiro resigned with immediate effect on Friday, describing the proposal as “a bad deal for football,” while FIFA Chief Operating Officer Kevin Lamour said staff had been “deceived” by Infantino, calling it a “project of one person”.
Infantino, 56, faces re-election next year, with North American football chief Victor Montagliani reportedly considering a challenge.
British Prime Minister Andy Burnham told reporters that Infantino was “the wrong man to lead the organisation.”
FIFA had proposed creating a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to manage the World Cup and its other competitions.
According to FIFA, Thrive Eternal, a fund managed by Thrive Capital founder Joshua Kushner, had been selected to lead the proposed investor group. Joshua Kushner is the brother of Jared Kushner, US President Donald Trump’s son-in-law.
Trump and Infantino have developed a close relationship, with the US co-hosting the 2026 World Cup. Trump said he had not discussed the external investment proposal with Infantino.
Faridah Abdulkadiri
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