FIFA scraps World Cup investor plans amid global backlash

Global football's governing body, FIFA, has abandoned its contentious plan to sell stakes in the World Cup to private investors. FIFA President Gianni Infantino announced the withdrawal of the proposal late Tuesday, acknowledging that the initiative had become divisive.

Infantino stated that after carefully listening to all viewpoints, it became clear the project had created divisions that were no longer in line with the original objective. He described the decision as an abrupt about-face.

The plan had drawn significant criticism from football associations across the globe. Many associations opposed Infantino's push to involve private investors, with some even threatening to boycott the World Cup. Calls for Infantino's resignation were also made by some critics.

FIFA's initial proposal aimed to generate substantial revenue by selling shares in the lucrative World Cup tournament. However, the lack of transparency and concerns over potential commercialization and loss of control over the sport's premier event fueled strong opposition from various stakeholders within the international football community.

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After we have listened to all the viewpoints, it has become clear that the project has led to divisions that, regardless of the extent of support, are no longer in the interest of the originally intended goal.