Key facts
- FIFA has abandoned plans to sell a 20% stake in a new commercial entity managing its major tournaments.
- The proposal aimed to raise up to $4.2 billion from private investors.
- UEFA led opposition, threatening a boycott of FIFA events.
- FIFA President Gianni Infantino announced the withdrawal of the plan.
- UEFA has declared a loss of confidence in Infantino's leadership.
FIFA has abandoned plans to allow private investment in its major competitions, including the World Cup, following significant backlash from regional confederations and calls for greater transparency. The proposal, championed by FIFA President Gianni Infantino, aimed to sell a 20% stake in a new commercial entity managing tournament rights, potentially raising up to $4.2 billion.
UEFA, the richest and most influential of soccer's six regional confederations, led the opposition by threatening a boycott of all FIFA events until the proposal was ditched. Other confederations also complained of a lack of consultation and called for institutional reform.
FIFA's Chief Operating Officer Kevin Lamour alleged that staff had been 'deceived' by Infantino, and senior advisor Carlos Cordeiro resigned in protest. The controversy has cast doubt on Infantino's political capital ahead of his potential re-election bid for a fourth term. UEFA announced it has lost confidence in Infantino's leadership, calling for greater oversight and accountability within world soccer.