Gianni Infantino drops FIFA World Cup private equity plan after global backlash | Football News
FIFA president Gianni Infantino has withdrawn his proposal to sell a stake in the commercial rights of the FIFA World Cup after facing widespread opposition from football bodies across the world.The decision came after several major football organisations, including UEFA, CONCACAF and the Asian Football Confederation, opposed the proposal. FIFA also saw senior adviser Carlos Cordeiro resign, while chief operating officer Kevin Lamour publicly criticised the plan.Announcing the decision on Friday, Infantino admitted the proposal had become too divisive.“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. Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
What was Infantino’s proposal?
Infantino wanted to create a $20 billion company to manage FIFA’s commercial business, including the men’s and women’s World Cups and Club World Cups. Under the proposal, private investors would own a 20% stake in the new company.The proposed “anchor investor” was a New York-based investment firm founded by Joshua Kushner, the younger brother of Jared Kushner, the son-in-law of U.S. President Donald Trump.
UEFA leads the opposition
The proposal triggered strong criticism from football’s governing bodies. UEFA’s 55 member associations even agreed to boycott FIFA competitions if the plan moved ahead.Explaining its stand, UEFA said: “Some things are simply too important to sell. The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.”CONCACAF and the Asian Football Confederation also announced their opposition to the proposal.
Pressure grows on Infantino
The failed proposal has become one of the biggest setbacks of Infantino’s presidency. Although he was re-elected unopposed in 2019 and 2023 and is eligible to seek one final four-year term under FIFA statutes, the controversy has raised fresh questions about his leadership.The next FIFA presidential election is scheduled to take place in Rabat, Morocco, with the deadline for candidates set for November 18, exactly four months before the vote.
Senior FIFA officials speak out
The controversy also reached FIFA’s top leadership.Senior adviser Carlos Cordeiro resigned from his role after FIFA insisted: “Nobody is selling football.”Cordeiro, however, made his position clear. “I cannot stand by while FIFA considers selling a stake in the World Cup.”Soon after, FIFA chief operating officer Kevin Lamour criticised the proposal, saying many FIFA staff members had not been properly informed.“It is the project of one person. Not only must this project not go ahead … but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.”
