FIFA President Cancels Plan to Sell World Cup Stake After Broad Opposition
Gianni Infantino announced the abandonment of a proposal to create a $20 billion company involving private investors to manage World Cup revenues, following objections from UEFA, CONCACAF, AFC and internal FIFA staff.
FIFA President Gianni Infantino said on Friday that a proposal to sell a stake in World Cup profits to private-equity investors would not move forward after widespread criticism from football governing bodies and FIFA staff.
The plan, which envisioned a $20 billion company with private investors such as a New York-based firm linked to Joshua Kushner, was met with a boycott threat from UEFA’s 55 member associations and opposition from CONCACAF and the Asian Football Confederation.
"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 in a statement.
"Some things are simply too important to sell," UEFA added, emphasizing that the World Cup belongs to football.
FIFA senior adviser Carlos Cordeiro, who had served on a White House task force for the tournament, resigned and urged colleagues to speak out, stating, "I cannot stand by while FIFA considers selling a stake in the World Cup."
FIFA chief operating officer Kevin Lamour later said staff had been misled by a lack of openness and described the initiative as the project of a single individual, calling for football leaders to reassess their decisions. The next FIFA event, the Women’s Under-20 World Cup in Poland, is expected to be affected by the boycott threat.