By Ghazali Ibrahim
FIFA President Gianni Infantino has abandoned plans to sell a minority stake in the commercial operations of the FIFA World Cup following strong opposition from major football confederations and senior officials within the governing body.
The proposal, announced earlier this week, aimed to raise approximately $4.2 billion through the sale of a 20 percent stake in a newly created commercial entity, FIFA Forward Enterprise.
However, the initiative unraveled after the Union of European Football Associations (UEFA), the Confederation of North, Central America and Caribbean Association Football (CONCACAF), and the Asian Football Confederation (AFC) withdrew their support.
UEFA reportedly threatened to boycott future FIFA World Cups if the plan moved forward, arguing that the sale would compromise the integrity and long-term interests of the global game.
The proposal also triggered internal fallout within FIFA. Infantino’s adviser, Carlos Cordeiro, resigned, describing the transaction as a poor deal, while FIFA Chief Operating Officer Kevin Lamour said staff members had been misled during the process.
In a statement issued on Friday, Infantino acknowledged that the proposal had caused deep divisions among football stakeholders and confirmed that it would no longer proceed.
“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.
“Our purpose has always been, and will always be, to unite and improve. As a result, this proposal will not proceed.”
Despite shelving the plan, the FIFA president reiterated the organisation’s commitment to expanding the game globally, particularly in developing football nations that require greater financial support.
Infantino said FIFA would continue working with its member associations and confederations to pursue sustainable growth while maintaining unity across the global football community
