PARIS: FIFA has abandoned plans to sell minority stakes in the commercial rights of the FIFA World Cup and other major tournaments after widespread opposition from football bodies and senior officials forced a dramatic policy reversal.
FIFA President Gianni Infantino confirmed the decision in a statement, saying the proposal would not move forward because it had created divisions that were no longer in the best interests of the game.
“Having listened carefully to all the views, it has become clear that the project has created divisions… As a result, this proposal will not proceed,” Infantino said.
The proposal, unveiled earlier this week, sought to create a new commercial entity that would raise hundreds of millions of dollars by selling stakes in the business operations of the men’s and women’s World Cups, as well as the Club World Cup, to private investors.
FIFA said the initiative would have increased development funding for its 211 member associations to more than US$10 billion over the next four years.
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However, the plan faced mounting resistance from football organisations around the world. UEFA reportedly threatened to boycott future FIFA competitions if the proposal proceeded, while other continental confederations also voiced opposition.
The growing backlash was compounded by the resignation of senior FIFA adviser Carlos Cordeiro, while reports suggested major investor Thrive Capital had also begun expressing reservations about the proposal.
The withdrawal marks a significant setback for Infantino, whose leadership has come under increasing scrutiny following the failed initiative.
FIFA said it would now focus on rebuilding consensus among member associations and continue working to expand investment in football development through other means.
