FIFA president Gianni Infantino announces the cancellation of the controversial initiative to sell stakes in the governing body’s competitions to private investors due to extensive backlash.
Infantino stated that it has become evident the initiative had “fostered divisions” that are “no longer aligned” with its initial goal.
The Swiss official stated, “Consequently, this proposal will not move forward.”
Infantino proposed $40m (£30m) to Fifa’s 211 member associations if they supported a plan for private investment in its events, including the World Cups for both men and women.
Nonetheless, Uefa – the organisation overseeing European football – reacted by voting to refuse participation in World Cups if the initiatives proceeded, and additional governing bodies expressed their dissent as well.
On Friday, Fifa’s COO Kevin Lamour stated that the organization’s administration had been “misled” regarding the project.
Carlos Cordeiro, Infantino’s top advisor on global organisation’s governance, stepped down regarding the issue, stating the proposal was “a poor agreement for football” and would “jeopardise football’s future.”
This followed statements from two other significant confederations opposing the proposals.
Concacaf, the governing body for football in North, Central America, and the Caribbean – which hosted this summer’s World Cup – stated that its members “rejected” the proposal, with sources indicating most associations in the region are losing or have lost confidence in Infantino.
The Asian Football Confederation (AFC) expressed its “solidarity” with UEFA and CONCACAF, while UK Prime Minister Andy Burnham stated that Infantino was “the wrong person” to head FIFA.
This indicates that Infantino is currently facing significant pressure as he aims for re-election for a fourth term as president during the Fifa Congress in March.
“Our purpose has always been – and will always be – to unite and improve,” the 56-year-old added in a statement.
“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.”
AFC president Sheikh Salman bin Ebrahim Al Khalifa welcomed the withdrawal of the plan.
“The future of global football must always be shaped through proper consultation, collective dialogue and respect for the established governance structures of our game,” he said.
Despite being turned down by Uefa and Concacaf, Fifa initially pledged to persist with its plans on Friday, asserting that “nobody is selling football”.
Nevertheless, Infantino required the support of a majority of member associations to implement the plans – indicating that 106 out of its 211 members had to vote in support.
This became improbable when the AFC allied with Uefa and Concacaf in resisting the proposals.
UEFA holds 55 votes, Concacaf possesses 35, while Asia has 46.
If every member association supported the position of their governing body, it would have resulted in 136 countries voting against Infantino’s proposal.
African (CAF) and Oceanic (OFC) governing organisations stated they would consider Fifa’s proposal in August.
Conmebol, the governing organisation for South American football, stated it sought “extra information and clarifications” from FIFA concerning the “scope, structure, governance, and potential impacts” of the proposals.
FIFA and Infantino aimed to establish a commercial subsidiary to manage its key events, such as the World Cups, allowing outside investors to acquire shares in it.
It announced it would “invite external parties to make minority, non-controlling investments” in a new subsidiary – Fifa Forward Enterprise (FFE).
Infantino established a deadline of 19 September for football federations to approve his proposals if they wished to receive an initial $20m (£15m).
A 25-page report by investment bank JP Morgan outlined how Fifa’s tournaments would grow to achieve an estimated raised payout of 24 million euros (£20.5 million) per member association in the 2035-2039 period.
It referred to “innovative business ventures” and “drawing high-calibre talent with performance-based pay”.
The World Cup is referred to as the “most watched” sporting event, whereas Fifa is claimed to be “under-monetised”.
The document did not reference the women’s game.
Fifa announced that Thrive Eternal was anticipated to head the suggested investor group for FFE.
Thrive is a U.S. venture capital company established by Joshua Kushner, who is the sibling of Jared, the son-in-law of President Donald Trump.
Trump, discussing the proposals for the first time on Friday, stated he had not communicated with Infantino about the plans.
The two have formed a strong bond since Trump took office again in 2025.
