FIFA abandons World Cup commercialization subsidiary plan amid backlash

FIFA has scrapped its controversial plan to create a new subsidiary for commercializing the World Cup, citing the project's divisive nature. FIFA President Gianni Infantino announced the decision in a statement Friday, acknowledging that the proposal had created "divisions of such a nature that, regardless of the level of support, they no longer redound to the benefit of the initially intended objective."

FIFA had intended to sell a 20% stake in FIFA Forward Enterprise (FFE), the new subsidiary, which was reportedly valued at $20 billion by J.P. Morgan. The organization had also offered each of its 211 member federations $53 million if they backed the proposal. The stated aim was to strengthen FIFA's member associations and global football, especially in countries needing support.

However, the plan faced significant backlash. UEFA, representing European football federations, strongly opposed the move, warning that its national federations would not participate in FIFA competitions if the proposal moved forward. Concacaf also aligned with UEFA's stance. The South American Football Confederation (CONMEBOL) stated it had begun consultations with its members, emphasizing that "football comes first."

Infantino concluded the statement by expressing his intention to convene all stakeholders in the coming days and weeks. He aims to foster a spirit of common interest for the sport and continue promoting football globally, particularly in regions requiring the most support.