Fifa president scraps private investment plan after backlash

FIFA President Gianni Infantino announced Saturday that a controversial plan to allow private investment in the World Cup has been scrapped due to widespread opposition from football officials worldwide. Infantino stated that the organization's core purpose remains to "unite and improve," and consequently, the proposal will not move forward.

The governing body for world football had unveiled the plan earlier in the week, proposing the creation of a commercial subsidiary named FIFA Forward Enterprise (FFE). This entity was intended to manage events such as the World Cup and Club World Cup, with projections suggesting it could raise as much as $4.2 billion based on a $20 billion valuation.

Under the withdrawn proposal, FIFA had indicated that if approved, the project could distribute a one-off payment of $20 million to each of its 211 member associations by early 2027. Furthermore, their funding allocation for the 2027-2030 cycle was set to increase from $8 million to $20 million.

The Asian Football Confederation, representing 47 member nations, welcomed the withdrawal of the plan. The backlash suggests significant concerns among football stakeholders regarding the potential impact of private investment on the sport's governance and future.

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Our purpose has always been, and will always be, to unite and improve. As a result, this proposal will not proceed.