FIFA, Gianni Infantino scrap plan to sell investment stake in World Cup
FIFA has officially abandoned plans to sell private investment stakes in the World Cup following widespread backlash from member confederations. President Gianni Infantino stated that the proposal caused too much division to be viable.
Why it matters
The decision preserves FIFA's non-profit structure and prevents the commercialization of the World Cup through private equity, which had faced threats of boycotts.
FIFA is not moving forward with a controversial plan to allow private investors to purchase a stake in the World Cup, according to a statement from FIFA president Gianni Infantino released by the organization on Friday.
In the statement, FIFA said that "this proposal will not proceed" after pushback from member organizations and other stakeholders.
"The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed. And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders," the statement read.
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