FIFA scraps controversial deal to sell stakes in World Cup to private investors
FIFA has canceled plans to sell stakes in the World Cup to private investors following intense backlash from European nations and internal opposition. FIFA President Gianni Infantino confirmed the reversal, citing the need to maintain unity within the sport.
Why it matters
The decision represents a significant check on the commercialization of global sports and highlights the influence of regional governing bodies like UEFA.
FIFA on Friday abandoned a controversial plan to sell stakes in the World Cup to private investors after drawing vociferous opposition from European countries — and from its own ranks.
Sports FIFA has a new plan to raise billions of dollars: Selling stakes in the World Cup The swift about-face marks a stunning defeat for FIFA President Gianni Infantino, who had championed a plan announced on Tuesday to create a commercial venture to capitalize on its tournaments — including the World Cup and the Club World Cup. The decision came just weeks after the conclusion of its enormously lucrative men's tournament held across North America.
The most controversial part of the plan was a deal to sell a minority stake to private investors including a firm run by Joshua Kushner, the brother of President Trump's son-in-law Jared Kushner.
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