UEFA says Infantino has lost its confidence after World Cup investment plan withdrawal
Translated from English, summarized and contextualized by DistantNews.
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- UEFA stated FIFA President Gianni Infantino has lost its confidence following the withdrawal of his plan for private investment in the World Cup.
- The plan, which aimed to raise $4.2 billion, faced global backlash and was rejected by UEFA and other confederations.
- UEFA criticized Infantino for breaking promises of transparency and for not using FIFA's reserves for the benefit of the game.
European football's governing body, UEFA, has declared that FIFA President Gianni Infantino has lost its confidence. This statement comes after Infantino's controversial plan to allow private investment in the World Cup was withdrawn due to widespread global opposition.
The current FIFA leadership has not only lost UEFA’s confidence but also that of many other members of the football family.
UEFA, which spearheaded the opposition, criticized Infantino for failing to uphold promises made during his 2016 election. He had pledged transparency and to manage FIFA's funds as belonging to member associations, not the president himself. UEFA asserted that Infantino has failed on both counts, describing his recently withdrawn proposal as a "shabby, back-room, opaque deal."
On both these promises, he has failed to deliver.
The withdrawn plan aimed to raise up to $4.2 billion by valuing FIFA Forward Enterprise (FFE), a proposed commercial subsidiary for events like the World Cup, at $20 billion. While UEFA welcomed the proposal's withdrawal, it did not temper its criticism of the FIFA leadership, highlighting that Infantino's actions have alienated many within the global football community.
The shabby, back-room, opaque deal he hatched and tried to force through were anything but transparent.
DistantNews Editorial
Originally published by Vanguard in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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