FIFA Withdraws Private Investment Plan After Global Opposition

FIFA has abandoned its controversial plan 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 had been scrapped following strong resistance from football federations across the world.

The plan, unveiled earlier this week, sought to raise up to $4.2 billion by selling about a 20 per cent stake in a new commercial entity that would oversee FIFA competitions, including the FIFA World Cup.

The proposal immediately sparked criticism, with UEFA leading the opposition and threatening to boycott FIFA competitions if the plan proceeded.The European football body argued that the World Cup should never be treated as a commercial investment.

In a statement, Infantino said FIFA decided to withdraw the proposal after consultations with member associations.

“Having listened carefully to all the views, it has become clear that the project has created divisions that are no longer in the interest of the objective we set out to achieve,” he said.

“Our purpose has always been, and will always be, to unite and improve football. As a result, this proposal will not proceed.”

FIFA had argued that the investment would generate billions of dollars to support football development programmes around the world. Under the proposal, each of FIFA’s 211 member associations was expected to receive about $40 million if the plan gained approval.

Despite that promise, opposition continued to grow.

UEFA’s 55 member associations unanimously voted to reject the proposal, warning they would boycott FIFA competitions unless it was withdrawn.

The Confederation of North, Central America and Caribbean Association Football (CONCACAF) also rejected the plan, while the Asian Football Confederation (AFC) later declared its support for UEFA and CONCACAF.

Together, the three confederations represent 143 of FIFA’s 211 member associations, giving opponents of the proposal a clear majority.

The controversy also triggered internal fallout within FIFA. Senior adviser Carlos Cordeiro resigned, describing the proposal as “a bad deal for football,” while FIFA Chief Operating Officer Kevin Lamour reportedly criticised the initiative, calling it “a project of one person.”

The abandoned proposal would have created a new commercial company, FIFA Forward Enterprise (FFE), to manage the World Cup and other FIFA competitions. FIFA had identified an investor group led by Thrive Capital founder Joshua Kushner to support the project.

Following the withdrawal, Infantino said FIFA would continue engaging stakeholders to explore other ways of growing the game and supporting football development worldwide.