FIFA President Gianni Infantino has scrapped his controversial plan to sell stakes in the world governing body’s tournaments. In a statement delivered late Saturday night, Infantino announced that the project had created divisions which were no longer in the interest of its original aim, meaning the proposal would not be moved forward.
The plan had initially offered the 211 member associations $40 million should they support private investment in tournaments, including the World Cup. Although UEFA and CONCACAF initially opposed the idea, FIFA had initially maintained its commitment to the scheme. However, Infantino later conceded that he required the support of the majority of the FIFA member associations-a prospect that became unlikely after the Asian Football Confederation (AFC) sided with the opposition.
The concept involved creating a commercial subsidiary where external investors could purchase shareholdings. This arrangement generated massive counter-reaction, with UEFA even threatening to boycott all tournaments hosted by the global organization.
