FIFA scraps controversial World Cup investment plan

FIFA has scrapped a controversial plan to sell a stake in the World Cup to private investors, following widespread backlash from football's governing bodies across Europe and beyond.

"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," FIFA president Gianni Infantino said in a statement on Friday evening. "Our purpose has always been, and will always be, to unite and improve. As a result, this proposal will not proceed."

The plan, known as the FIFA Forward Enterprise, would have seen FIFA sell about a 20 percent stake in a new unit set up to run its events, including the World Cup, in a deal that would have raised up to $4.2 billion based on a valuation of $20 billion. 

The proposal, first revealed on Tuesday, drew immediate opposition. UEFA, European football's governing body, accused FIFA of putting the sport's "soul" up for sale and described the plan as "irresponsible and indefensible", having been "conceived in secret.”

On Thursday, UEFA's 55 member associations voted unanimously to boycott FIFA competitions for as long as the proposal remained on the table.

CONCACAF, the 41-member confederation for North and Central America and the Caribbean, also rejected the plan, questioning the need for private investment following what it called the most profitable World Cup in history. 

The Asian Football Confederation stopped short of rejecting the plan outright but said it stood in solidarity with UEFA and CONCACAF, and called on FIFA to urgently review its governance and decision-making processes.

The backlash was not limited to outside FIFA. 

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

British Prime Minister Andy Burnham said Infantino was "the wrong man to lead the organisation.”

The row has added to pressure already facing Infantino, who has faced criticism over his close relationship with Trump in the build-up to and during the 2026 World Cup, which was co-hosted by the United States, Mexico and Canada. 

During the tournament, Trump said he had asked Infantino to review a red card shown to USA striker Folarin Balogun, whose suspension was later overturned without detailed explanation. Trump has denied speaking to Infantino about the investment plan itself.

Infantino, 56, is due to seek a fourth term as FIFA president in elections scheduled for March next year in Morocco, with North American football chief Victor Montagliani reportedly considering a challenge. 

The deadline for candidates to declare is 18 November