FIFA President Gianni Infantino withdraws plans to sell stakes in competitions
En resumen
- FIFA President Gianni Infantino has withdrawn his controversial plans to sell minority stakes in FIFA competitions, including the World Cup, to private investors.
- The decision followed widespread condemnation from football bodies like UEFA, AFC, and CONCACAF, and internal resignations.
Resumen generado por IA
Por qué importa
FIFA President Gianni Infantino proposed creating a commercial subsidiary, FIFA Forward Enterprise (FFE), to sell minority stakes in FIFA competitions to private equity investors.
FIFA President Gianni Infantino has withdrawn his plans to sell stakes in FIFA competitions to private investors.
Infantino's plans had been met with widespread condemnation from across the football world.
In a statement on Saturday, Infantino said: "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."
What were FIFA chief's Infantino's private investor plans?
Infantino's proposal would have created a commercial subsidiary, the FIFA Forward Enterprise (FFE), to run competitions like the World Cup, selling broadcasting and sponsorship, tickets and hospitality.
Under the plans, FIFA would sell minority stakes in FFE to private equity investors. The proposed investor consortium was to be led by "Thrive Eternal," a fund run by "Thrive Capital," which was founded by Joshua Kushner, the brother of US President Donald Trump's son-in-law, Jared Kushner.
Infantino, who has faced criticism for his close ties to the US president, had asked federations to approve the measure by September 19, reportedly offering the associations $40 million (€35 million) if they backed the proposal.
Infantino's plans met with global backlash
UEFA, the governing body of European football, said on Thursday that its members had unanimously agreed to boycott all FIFA tournaments, including the World Cup, unless the plan was withdrawn.
"The World Cup is not for sale," UEFA said.
European teams are the reigning champions of FIFA's three leading competitions, the men's and women's World Cup, and the Club World Cup.
The Asian Football Confederation (AFC) and CONCACAF, which runs the sport in North America and the Caribbean, soon joined UEFA in condemning and rejecting FIFA's plans, although they stopped short of threatening a boycott.
As the opposition to Infantino's plans grew, his senior advisor Carlos Cordeiro resigned in protest on Friday.
Later on Friday, the world governing body's chief operating officer, Kevin Lamour, slammed Infantino, saying the plans were "the project of one person" who had "deceived" FIFA staff.
Preguntas abiertas
- What are FIFA's alternative financial strategies?
- How will FIFA address internal divisions?
