FIFA scraps World Cup stake sale plan after widespread backlash

World football's governing body, FIFA, says it has scrapped plans to sell a stake in the World Cup to private investors after widespread backlash.

FIFA president Gianni Infantino said in a statement: "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."

The plan was to raise $US4.2 billion ($5.9 billion) by selling about a 20 per cent stake in a new unit that would run FIFA events, including the World Cup, valuing it at $US20 billion.

The proposal, first announced on Tuesday, was strongly opposed by European football's governing body, UEFA, which threatened a boycott and accused FIFA of putting the sport's "soul" up for sale.

Mr Infantino said in his statement: "[The] FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed.

"Our purpose has always been — and will always be — to unite and improve."

FIFA had argued that selling the minority stake in its commercial operations would raise billions of dollars to fund global sports development, and accused the media of mischaracterising the proposal.

Mr Infantino had written to member associations to tell them they would receive $US40 million each if they agreed to FIFA's proposal by September 19.

"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, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support," Mr Infantino said in Friday's statement.

Football Australia welcomed FIFA's decision to withdraw the proposal, with chairman Anter Isaac saying the backlash reinforced "an important principle of good governance".

"Proposals of global significance should be developed through robust consultation, appropriate governance processes and meaningful engagement with member associations before they are presented for consideration," he said in a statement.

"Ultimately, the strength of football's institutions depends on the confidence and trust of the global football family. That trust is earned not simply through good decisions, but through the integrity of the processes that lead to them."

Opposition to the plan snowballed over the week

On Thursday, UEFA's 55 member nations voted unanimously to boycott all FIFA tournaments until the proposal was withdrawn, saying that the World Cup "cannot be treated as an investment product".

The 41-member federation for North America, Central America and the Caribbean (CONCACAF) rejected the proposal during a meeting on Thursday.

On Friday, the Asian Football Confederation (AFC), which has 47 members, issued a statement saying it "stands in solidarity" with UEFA and CONCACAF.

UEFA, CONCACAF and the AFC combined have 143 national associations, well over half of FIFA's 211 members. A majority of the members would have needed to vote in support of the plan for it to proceed.

Disagreement was also internal.

On Friday, Mr Infantino's senior adviser, Carlos Cordeiro, resigned with immediate effect, calling the plan "a bad deal for football", while FIFA chief operating officer Kevin Lamour said staff had been "deceived" by Mr Infantino, describing the proposal as a "project of one person".

Mr Infantino, 56, is up for re-election next year. North American football chief Victor Montagliani is reportedly looking to challenge him.

British Prime Minister Andy Burnham told reporters that Mr Infantino was "the wrong man to lead the organisation".

FIFA had proposed creating a $US20 billion subsidiary, FIFA Forward Enterprise (FFE), to run the World Cup and its other events.

Thrive Eternal, a fund run by Thrive Capital, founded by Joshua Kushner, had been slated to lead the proposed investor group, according to FIFA. Joshua is the brother of Jared Kushner, who is US President Donald Trump's son-in-law.

Mr Trump and Mr Infantino have developed a close relationship, with the US co-hosting the recent 2026 World Cup.

President Trump said he had not spoken with Mr Infantino about the external investment plan.