Infantino backs down: FIFA halts private sale of subsidiary stakes

FIFA President Gianni Infantino has suspended plans to sell stakes in a new subsidiary established to manage revenue from major tournaments, including the World Cup. The decision followed significant backlash from football organizations worldwide. The plan involved selling shares in the subsidiary, FIFA Forward Enterprises (FFE), to Thrive Capital, a venture capital firm founded by Joshua Kushner. European football's governing body, UEFA, had threatened to boycott FIFA tournaments in protest. The North American, Central American, and Caribbean Football Confederation (CONCACAF) and the Asian Football Confederation (AFC) also voiced their opposition through official statements. Infantino acknowledged the widespread concerns, stating in a release that "after listening to all opinions, it has become clear that the project being pursued has caused division and has not met its originally set goals." He concluded, "We will no longer pursue the project."

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after listening to all opinions, it has become clear that the project being pursued has caused division and has not met its originally set goals. We will no longer pursue the project.