DistantNews
Support us
FIFA backs Infantino after World Cup sell-off plan blunder, apologizes for errors
🇰🇷 South Korea /Sports

FIFA backs Infantino after World Cup sell-off plan blunder, apologizes for errors

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • FIFA President Gianni Infantino reaffirmed support from top staff despite the failure of his plan to attract private investment for the World Cup.
  • Infantino apologized for mistakes in the handling of the FIFA Forward Enterprise (FFE) proposal, which aimed to raise billions by selling a minority stake in a new commercial rights entity.
  • The FFE plan faced criticism due to its association with a fund linked to Jared Kushner, leading to concerns about FIFA's governance and Infantino's leadership ahead of his re-election bid.

FIFA President Gianni Infantino has secured renewed backing from his executive team following the collapse of a controversial plan to sell commercial rights linked to the World Cup. The governing body acknowledged "mistakes were made" in handling the FIFA Forward Enterprise (FFE) proposal, which aimed to raise approximately $4.2 billion by selling a 20% stake in a new entity.

We acknowledge that mistakes were made. The procedure should have been different. We will ensure this does not happen again.

— FIFAFIFA's statement after a leadership meeting in Morocco where Infantino's support was reaffirmed.

Infantino apologized to FIFA's member associations for the errors in the process, stating that procedures should have been different and vowing to prevent future occurrences. The FFE plan had drawn significant criticism, particularly due to the involvement of Thrive Eternal, a fund managed by Joshua Kushner, brother-in-law of former U.S. President Donald Trump. This connection, coupled with Infantino's perceived closeness to Trump, fueled backlash.

We cannot rule out any option. The current FIFA leadership has lost the trust of the football community, including UEFA.

— UEFAUEFA's criticism of FIFA's handling of the FFE proposal.

European soccer's governing body, UEFA, and other stakeholders accused FIFA of poor governance and a lack of consultation, with UEFA stating it had lost confidence in Infantino's leadership. Despite the withdrawal of the FFE plan, the controversy has cast a shadow over Infantino's bid for a fourth term as FIFA president in the upcoming March election.

A leadership that does not prioritize football. Unilateral and absurd behavior is a typical example of poor leadership.

— CONCACAFThe Confederation of North, Central American and Caribbean Association Football's critique of FIFA's actions.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog