Football's global governing body, FIFA, has cancelled a controversial multi-billion-dollar proposal to sell a stake in its World Cup commercial operations following widespread anger from European leaders, top officials, and continental associations.
The plan aimed to raise up to $4.2 billion by selling a 20 percent stake in a new unit running major FIFA events, valuing the event business at $20 billion. However, European football's governing body, UEFA, fiercely resisted the move, voting to boycott FIFA competitions and accusing FIFA of putting the "soul" of the sport up for sale in secret dealings.
The resistance quickly triggered internal fallout within FIFA. Infantino’s senior adviser Carlos Cordeiro resigned in protest, calling the proposal a bad deal for football. Chief Operating Officer Kevin Lamour stated that staff felt deceived, describing the proposal as a single person's project. Outside football, British Prime Minister Andy Burnham publicly remarked that Infantino was the wrong person to lead the organisation.
In response to the mounting pressure, FIFA President Gianni Infantino announced late Friday that the plan would not move forward, acknowledging that it had created deep divisions rather than uniting the sport. The collapse of the proposal leaves Infantino facing growing scrutiny over his governance style as candidate declarations approach for next March's presidential election.