FIFA cancels controversial business empire sale plan

The Fédération Internationale de Football Association (FIFA) has announced the cancellation of its contentious proposal to sell a portion of its business empire to external investors. This decision follows significant backlash from member associations, particularly UEFA, which had threatened to boycott related tournaments.

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After listening carefully to all views, it is clear that this project has created division which is no longer aligned with the original objectives.

The initial plan involved raising up to $4.2 billion (RM17.2 billion) by divesting approximately 20% of a newly formed unit intended to manage major competitions, including the World Cup. This unit was valued at a total of $20 billion (RM82 billion). The proposal, revealed earlier in the week, sparked outrage, with UEFA describing it as an attempt to sell the "soul" of football.

FIFA President Gianni Infantino issued a statement explaining that the decision not to proceed was made after careful consideration of all viewpoints to prevent internal division. "After listening carefully to all views, it is clear that this project has created division which is no longer aligned with the original objectives," Infantino said. "Our goal has always been and will remain to unite and improve (football). Therefore, this proposal will not be pursued."

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Our goal has always been and will remain to unite and improve (football). Therefore, this proposal will not be pursued.

The internal turmoil also saw FIFA senior advisor Carlos Cordeiro resign immediately, calling the plan a "bad deal for football." More surprisingly, FIFA Chief Operating Officer Kevin Lamour claimed that the organization's staff had been "deceived" by Infantino, characterizing the proposal as solely the president's personal project.

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