FIFA scraps private investment plan after fierce backlash from officials worldwide

FIFA President Gianni Infantino announced Saturday that a controversial plan to introduce private investment into the World Cup has been scrapped, following significant backlash from football officials worldwide. The decision marks a retreat from a proposal that had generated considerable opposition.

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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.

FIFA had unveiled the plan earlier in the week, suggesting the creation of a commercial subsidiary, FIFA Forward Enterprise (FFE), to manage major events like the World Cup and Club World Cup. The governing body estimated the venture could raise up to $4.2 billion, based on a $20 billion valuation for FFE. The proposal also included a one-off payment of $20 million to each of FIFA's 211 member associations, with an increase in their funding allocation for the 2027-2030 cycle from $8 million to $20 million.

However, the plan faced immediate and strong criticism. The Asian Football Confederation (AFC) welcomed the withdrawal, stating that any such initiative should be discussed transparently with all stakeholders. The Mexican Football Federation also expressed satisfaction, emphasizing that unity among confederations and federations was prioritized. UEFA, European football's governing body, had previously declared that none of its national teams would participate in FIFA competitions as long as the proposals remained active, calling the World Cup "not for sale."

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Any initiative that may impact global football should be “presented and discussed with the Confederations, the FIFA Council, Member Associations (MAs) and other stakeholders in a timely, transparent and meaningful manner.

Pressure intensified with the resignation of senior advisor Carlos Cordeiro, who deemed the idea "a bad deal for FIFA's member associations, a bad deal for football, and a bad deal for the long-term future of the game." The South American confederation CONMEBOL also sought further details on the project's scope and potential effects.

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The World Cup cannot be treated as an investment product. No part of it should ever be surrendered to private investors. The World Cup is not for sale.

In a late-night statement, Infantino explained that the project was intended to strengthen member associations but acknowledged it had "created divisions." He stated that the proposal would not proceed because such divisions were no longer in the project's original interest, regardless of the level of support it might have garnered. FIFA had attempted to mitigate criticism earlier by stating that consultations would continue and that "nobody is selling football."

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Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place.