Fifa scraps controversial World Cup investment plan
The proposal would have sold a 20% stake in a new commercial unit and raised up to $4.2 billion, FIFA said.
- On Friday, FIFA President Gianni Infantino confirmed the organization has abandoned plans to sell a 20% stake in a new commercial unit overseeing World Cup operations, a deal that could have raised up to $4.2 billion.
- Opposition from three major federations forced the withdrawal, as UEFA, The Asian Football Confederation, and CONCACAF together represent more than half of FIFA's 211 member associations.
- UEFA's 55 members voted to boycott FIFA events, calling the World Cup not "an investment product," while accusing FIFA of putting the sport's "soul" up for sale.
- British Prime Minister Andy Burnham criticized Infantino on Friday, stating he is "the wrong man to lead the organisation." Infantino faces reelection next year.
- His tenure since February 2016 has brought structural expansions and commercial revenue growth, but also high-profile political alignments and intense friction with European football bodies.
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FIFA has abandoned its controversial plans to sell World Cup shares to investors. FIFA President Infantino stated that the proposal would not be pursued further. He had led to a split that could not be in the interest of the actual goal of uniting and improving the sport.
After the revolt of his closest collaborators, the threat of boycott by the UEFA and the strong opposition of the Asian and American confederations, the president of the Fifa Gianni Infantino announced the withdrawal of the project "Fifa Forward Enterprise" which provided to open the organization of the World Cup to private investors. "After listening to [...] L'articolo World Cup "Private," after the Uprising Uefa Infantino renounces the projec…
FIFA scrap controversial plans to 'sell' World Cup after backlash
FIFA have announced that they’ll be scrapping plans to sell off a stake in the World Cup following intense backlash. It was reported earlier this week that ever-controversial FIFA President Gianni Infantino was planning to sell off stakes in FIFA, including the World Cup, to private investors — plans that have been decried both in […]
FIFA has been forced to cancel its project to privatize the World Cup with the entry of companies into the organization of the tournament. A proposal that received total opposition from UEFA and many other agencies that refused to let the plan go forward, as they considered a way to sell the tournament. ... Continue reading " FIFA loses the war to UEFA: Infantino backs down and cancels the privatization of the World Cup"
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