FIFA President Gianni Infantino has withdrawn his controversial proposal to sell minority stakes in the governing body’s major competitions to private investors following widespread opposition from football’s regional governing bodies and member associations, according to the BBC.
The BBC reported that Infantino said the proposal had “created divisions” that were “no longer in the interest” of its original objective.
“As a result, this proposal will not proceed,” Infantino said in a statement. He added that FIFA’s purpose “has always been – and will always be – to unite and improve.”
According to the BBC, the proposal would have created a commercial subsidiary, FIFA Forward Enterprise (FFE), to manage FIFA’s flagship competitions, including the men’s and women’s World Cups. External investors would have been allowed to purchase minority, non-controlling stakes in the new entity.
The BBC said FIFA had offered each of its 211 member associations an initial payment of US$20 million, with the promise of a further US$20 million if the proposal was approved. Investment documents prepared by JPMorgan Chase reportedly projected significantly higher financial returns for member associations over the 2035–2039 cycle, arguing that FIFA’s commercial assets were “under-monetised.”
However, the plan drew strong opposition from football’s continental governing bodies.
According to the BBC, UEFA voted to boycott future World Cups if the proposal went ahead, while CONCACAF rejected the plan outright. The Asian Football Confederation also declared its solidarity with UEFA and CONCACAF.
The BBC reported that with UEFA’s 55 member associations, CONCACAF’s 35 and the AFC’s 46 expected to vote against the proposal, Infantino was unlikely to secure the 106 votes required for approval by a majority of FIFA’s 211 members.
The broadcaster further reported that the controversy extended into FIFA’s own administration. Chief Operating Officer Kevin Lamour said the organisation had been “deceived” about the project, while Infantino’s senior adviser on global strategy and governance, Carlos Cordeiro, resigned, describing the proposal as “a bad deal for football” that would “mortgage football’s future.”
According to the BBC, criticism also came from outside football, with UK Prime Minister Andy Burnham saying Infantino was “the wrong man” to lead FIFA.
The BBC said the failed proposal has increased pressure on Infantino as he seeks a fourth term as FIFA president at the organisation’s Congress in March.
Despite shelving the plan, Infantino said he intends to rebuild unity within world football.
“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game,” he said.
The BBC also reported that AFC President Sheikh Salman bin Ebrahim Al Khalifa welcomed the decision, saying the future of global football should be shaped through “proper consultation, collective dialogue and respect for the established governance structures of our game.”
According to the BBC, the abandoned proposal had identified American venture capital firm Thrive Eternal as the expected lead investor in FIFA Forward Enterprise. The firm was founded by Joshua Kushner, the brother of Jared Kushner, son-in-law of U.S. President Donald Trump. Trump said he had not discussed the proposal with Infantino despite their close relationship.
The BBC noted that the collapse of the investment proposal represents one of the most significant setbacks of Infantino’s presidency and raises fresh questions about his political future ahead of next year’s FIFA presidential election.
