FIFA scraps controversial $20bn World Cup investment plan

FIFA has scrapped its controversial plan to sell private stakes in future World Cup tournaments following widespread opposition from fans, football associations and regional governing bodies around the world.

FIFA President Gianni Infantino announced the decision in a statement on Friday, saying the proposal had become too divisive.

“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” Infantino said.

“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”

The governing body had announced on Tuesday plans to establish a separate subsidiary, backed by private equity investment, to control the commercial and operational rights of one of the world’s biggest sporting events.

The proposal immediately sparked intense criticism, with UEFA warning that the “soul and governance” of football were under threat. FIFA had argued that any funds generated would be reinvested into the sport.

Infantino said his focus would now shift to restoring unity within global football.

“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support,” he said.

Opposition to Infantino

Pressure on Infantino intensified as opposition to the proposal grew across football.

UEFA threatened on Thursday to boycott future men’s and women’s World Cups over the plan. CONCACAF and the Asian Football Confederation (AFC) also rejected the proposal, though they stopped short of calling for a boycott. The Oceania Football Confederation said it would consider the issue at an executive committee meeting in August.

Further pressure emerged on Friday when Infantino’s senior adviser, Carlos Cordeiro, resigned in protest.

“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro said, describing the proposal as “a bad deal for FIFA’s Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.”

FIFA Chief Operating Officer Kevin Lamour also criticised the initiative, describing it as “the project of one person.”

“Not only must this project not go ahead… but the time has now come for football political leaders to ask themselves the right questions and make the right decisions,” he said, adding that he was prepared to lose his job over his opposition.

FIFA had defended the proposal on Thursday, saying it respected the concerns raised while blaming much of the backlash on what it described as erroneous media reporting.

Friday’s decision to abandon the plan was welcomed by the AFC, whose president, Shaikh Salman bin Ebrahim Al Khalifa, said the future of world football should be shaped through consultation, dialogue and respect for established governance structures.

Much of the criticism centred on plans for private investors to acquire about a 20 per cent stake in the proposed FIFA Forward Enterprise, particularly the involvement of Thrive Eternal, an investment group led by Joshua Kushner. Critics feared investors seeking financial returns could eventually influence decisions affecting the governance of world football.

With the proposal now shelved, attention turns to FIFA’s next major events, including the FIFA Under-20 Women’s World Cup in Poland in September and the 2027 FIFA Women’s World Cup in Brazil.

Credit: CNN