Infantino is not proceeding with divisive plan to sell World Cup profits to private equity
FIFA President Gianni Infantino has canceled a controversial plan to sell World Cup profits to private equity investors following widespread opposition from global soccer confederations. The decision comes after significant backlash from UEFA, CONCACAF, and the Asian Football Confederation, who argued the tournament should not be commercialized in this manner.
Why it matters
The reversal preserves the governance structure of the world's most popular sporting event and prevents a major shift in how international sports are financed.
By GRAHAM DUNBAR Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] --> Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. --> Share
GENEVA (AP) — FIFA President Gianni Infantino is abandoning his divisive plan to sell World Cup profits to private equity after receiving pushback from all corners of the soccer world.
Infantino’s decision came after his senior adviser who sat on a White House panel resigned and Asia’s soccer body joined Europe and North America in opposing it.
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