Key facts
- FIFA has abandoned plans to sell a stake in the commercial rights to its major competitions.
- The World Cup commercial rights were included in the proposed stake sale.
- The plan faced significant backlash from regional confederations and soccer bodies worldwide.
- The proposal aimed to raise up to $4.2 billion.
- A 20% stake in FIFA's commercial arm was part of the plan.
- FIFA's commercial arm was valued at $20 billion.
- Calls for greater transparency were made regarding the plan.
- A senior adviser resigned in protest of the stake sale plan.
FIFA has decided to scrap its plan to sell a stake in the commercial rights of its major competitions, including the World Cup, to private investors. This decision comes after facing widespread backlash and opposition from regional confederations and soccer bodies globally. The proposal aimed to raise up to $4.2 billion by selling a 20% stake in FIFA's commercial arm, which is valued at $20 billion. The plan encountered significant resistance, leading to calls for greater transparency within the organization. In response to the mounting opposition, FIFA President Gianni Infantino announced the abandonment of the stake sale. The backlash also prompted the resignation of a senior adviser who protested the move. The exact details of the proposed stake sale and the specific investors involved were not fully disclosed, contributing to the calls for transparency from various soccer officials and executives.