FIFA President Gianni Infantino has announced that the world football governing body is abandoning its controversial proposal to allow private investment in major competitions, including the men’s and women’s World Cups, following fierce and widespread opposition.
In a statement released late on Friday, Infantino confirmed that the plan, which involved creating a new commercial entity known as FIFA Forward Enterprise (FFE) and selling a minority stake to private investors, will not proceed.
“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 proposal, first detailed earlier this week, aimed to raise up to $4.2 billion based on a $20 billion valuation of the new commercial subsidiary that would manage FIFA events such as the World Cup and Club World Cup. FIFA had suggested that, if approved, each of its 211 member associations could receive a one-off payment and increased funding in the coming cycle.
However, the plan triggered immediate and strong resistance. UEFA’s 55 member associations unanimously voted to boycott FIFA competitions if the proposal remained on the table. CONCACAF and the Asian Football Confederation (AFC) also rejected the idea, while senior FIFA adviser Carlos Cordeiro resigned in protest, describing it 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.”
Infantino stated that the project was originally intended to strengthen member associations and support football development worldwide. He emphasised that FIFA would now focus on bringing stakeholders back together to continue growing the game, particularly in countries that need the most support.
The decision marks a significant U-turn for FIFA leadership amid growing pressure and questions over the future direction of the organisation.