FIFA President Gianni Infantino has officially abandoned the governing body’s controversial proposal to sell stakes in its major football competitions after facing widespread opposition from member associations and football stakeholders.
Announcing the decision, Infantino admitted the plan had generated significant divisions within world football and said it was no longer in the best interest of the sport.
“It has become clear that this proposal has created divisions that are no longer in the interest of its original objective. As a result, this proposal will not proceed,” Infantino said.
The proposal would have allowed private investors to acquire ownership interests in FIFA’s flagship competitions, including the men’s and women’s FIFA World Cups.
To secure support, FIFA had reportedly offered each of its 211 member associations an incentive of $40 million (£30 million) if they backed the investment plan.
However, the proposal faced fierce resistance, particularly from UEFA, which argued that the World Cup should remain under the full ownership of world football and not become a commercial investment asset.
Following the backlash, FIFA has now confirmed that the controversial investment plan has been withdrawn, ending weeks of debate over the future ownership structure of its global competitions.
