FIFA Drops $4.2 Billion Private Investment Plan after Global Backlash
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PARIS: FIFA president Gianni Infantino has officially scrapped a controversial plan to sell commercial stakes in the World Cup following intense global backlash from football officials and political leaders.
The proposal aimed to raise up to $4.2 billion by creating a new $20 billion commercial subsidiary, FIFA Forward Enterprise, to manage major tournaments like the World Cup and Club World Cup.
Fierce opposition erupted across the sport, led by European governing body UEFA, which threatened a total competition boycott and declared that the World Cup "is not for sale".
Pressure mounted further after senior FIFA advisor Carlos Cordeiro resigned in protest, calling the proposal a bad deal for the game's long-term future, while UK Prime Minister Andy Burnham openly criticized Infantino's leadership.
Acknowledging that the project created severe divisions, Infantino announced the deal is dead, pledging to bring interested parties together to restore harmony and grow global football.
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