Facing boycott threats, FIFA withdraws plan to sell stakes in World Cup subsidiary

Global football's governing body, FIFA, has reversed its decision to sell stakes in a newly formed subsidiary, FIFA Forward Enterprises. The move comes after intense criticism and threats of boycotts from various football organizations, particularly in Europe.

FIFA had announced plans to create the subsidiary, which would handle revenue-generating activities like broadcasting rights and licensing, and then sell a portion of its equity to external investors. The company was valued at approximately $20 billion, with FIFA aiming to raise around $6 billion from the sale.

However, the proposal met with fierce opposition. The Union of European Football Associations (UEFA), representing 55 member nations, collectively declared they would boycott FIFA-organized tournaments, including the World Cup, if the plan proceeded. This unified stance signaled a significant challenge to FIFA President Gianni Infantino's strategy.

In response to the mounting pressure, Infantino issued a statement announcing the withdrawal of the "FIFA Forward Enterprises Project." This decision appears to be a concession to the widespread concerns within the football community about commercializing core assets of the sport.

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We are withdrawing the FIFA Forward Enterprises Project.