FIFA World Cup sell-off plan reportedly dead
FIFA has officially abandoned its controversial plan to sell a 20 percent stake in its business operations, which would have included the World Cup. The decision follows intense backlash from regional confederations like UEFA, who argued the move would compromise the sport's integrity.
Why it matters
The cancellation prevents the privatization of one of the world's most valuable sporting assets and highlights the power of member associations in checking FIFA's executive authority.
From far left: FIFA’s adviser to the president Mattias Grafstrom, then president of the US Soccer Federation Carlos Cordeiro, FIFA president Gianni Infantino and US President Donald Trump in a 2018 photo.
Listen FIFA said it will not proceed with its proposal to sell a piece of its business empire to outside investors after the project was met with fierce resistance from some of its member associations.
FIFA’s plan was to raise up to US$4.2 billion (S$5.4 billion) by selling about a 20 per cent stake in a new unit that would run FIFA events including the World Cup, valuing it at US$20 billion.
The proposal, first announced on July 29, was strongly opposed by many regional confederations , including European football body UEFA, which threatened a boycott and accused FIFA of putting the sport’s “soul” up for sale.
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