UEFA says it has lost confidence in FIFA chief Gianni Infantino after private-equity plan is scrapped
European soccer governing body UEFA withdrew its support for Gianni Infantino’s proposal to create a $20 billion company to run World Cup events after widespread opposition from other confederations and internal resignations.
European soccer federation UEFA announced that it no longer has confidence in FIFA president Gianni Infantino after his proposal to spin off World Cup commercial rights into a $20 billion private-equity company was abandoned. The plan, which would have given 20 % of the new entity to private investors, faced mounting criticism from UEFA members, North America’s CONCACAF, the Asian Football Confederation and FIFA staff.
"No option should be off the table," UEFA president Aleksander Čeferin said, adding that the current FIFA leadership had lost the confidence of UEFA and many other members of the football community.
The proposal collapsed on Saturday after senior FIFA adviser Carlos Cordeiro resigned and warned other officials to speak out. FIFA’s chief operating officer Kevin Lamour told the Associated Press that staff had been misled by Infantino’s lack of openness and that the project could not continue.
"It is the project of one person," Lamour wrote, calling for football leaders to ask themselves the right questions.
The “anchor investor” for the venture was identified as a New York-based investment firm linked to Joshua Kushner. UEFA’s statement condemned the plan as a “secret scheme” and pledged to work with its associations and other confederations to prevent similar initiatives in the future.
Infantino, re-elected unopposed in 2019 and 2023, remains eligible for one more four-year term. The next presidential candidacy deadline is Nov. 18, ahead of the vote scheduled for Rabat, Morocco.