FIFA scraps controversial World Cup private investment plan amid backlash

FIFA has scrapped a contentious plan to sell a stake in the World Cup to private investors, bowing to widespread criticism from across the global football community. The organization, led by President Gianni Infantino, had faced fierce opposition to the proposal, which aimed to create a new company to manage commercial rights.

In a statement, FIFA acknowledged that the project had generated significant divisions. "It has become clear that the project has created divisions of such a nature that, regardless of the level of support, it is no longer in the interest of the intended objective," the organization said. FIFA emphasized its core mission: "Our purpose has always been – and will always be – to unite and improve. Consequently, this proposal will not be taken forward."

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After having listened carefully to all points of view, it has become clear that the project has created divisions of such a nature that, regardless of the level of support, it is no longer in the interest of the intended objective.

The decision marks a significant retreat for FIFA, which had explored various avenues for private investment to boost its commercial operations. The backlash highlighted deep-seated concerns within football about the potential commercialization and control of its premier event.

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Our purpose has always been – and will always be – to unite and improve. Consequently, this proposal will not be taken forward.