FIFA has officially scrapped its controversial plan to sell a minority stake in its commercial operations, including the World Cup, following intense global backlash. The proposal, which aimed to raise up to $4.2 billion by creating a $20 billion subsidiary, was abandoned after major football confederations, led by UEFA, threatened to boycott all FIFA tournaments. FIFA President Gianni Infantino announced the reversal on Friday, stating that the project had caused divisions that no longer aligned with the organization's goals of unity and development.
The plan had sought to spin off commercial rights into a new entity called FIFA Forward Enterprise, with minority stakes offered to private investors, including a group led by Joshua Kushner. FIFA had argued that the influx of capital would provide significant funding for global football development, even offering member associations a $40 million payout if they approved the deal by September 19. However, the proposal faced immediate and widespread resistance from the moment it was unveiled.
UEFA, representing 55 European nations, led the opposition by voting unanimously to boycott FIFA competitions unless the plan was withdrawn. The confederation accused FIFA of putting the sport's "soul" up for sale and criticized the lack of transparency in the proposal's development. Other major bodies, including CONCACAF and the Asian Football Confederation, also joined the resistance, making it nearly impossible for the plan to secure the necessary support.
Internal pressure also mounted as senior FIFA officials broke ranks. Carlos Cordeiro, a senior adviser to Infantino, resigned in protest, calling the plan a "bad deal for football." Additionally, FIFA’s chief operating officer, Kevin Lamour, issued a public statement criticizing the lack of consultation. With the proposal now dead, the focus shifts to the future of FIFA’s leadership and how the organization will address the deep fractures exposed by this failed initiative.