ZURICH – FIFA President Gianni Infantino has scrapped a controversial plan to sell stakes in the governing body’s competitions to private investors, citing widespread opposition from member associations and confederations.
Infantino said on Friday that the proposal had “created divisions” that are “no longer in the interest” of its original objective.
”As a result, this proposal will not proceed,” the Swiss official added.
The plan had offered FIFA’s 211 member associations $40m, about £30m, each if they backed private investment in its tournaments, including the men’s and women’s World Cups.
The proposal, however, sparked immediate backlash. UEFA voted to boycott World Cups if the plans went ahead. Concacaf, which hosted this summer’s World Cup, said its members “rejected” the proposal, with sources saying most associations in the region had lost faith in Infantino. The Asian Football Confederation, AFC, also declared “solidarity” with UEFA and Concacaf.
FIFA’s Chief Operating Officer, Kevin Lamour, said on Friday that the administration had been “deceived” about the project.
Infantino’s senior adviser on global strategy and governance, Carlos Cordeiro, resigned over the matter, calling the proposal “a bad deal for football” that would “mortgage football’s future.”
UK Prime Minister Andy Burnham also criticised Infantino, saying he was “the wrong man” to lead FIFA.
The development puts Infantino under increased pressure ahead of his bid for a fourth term as FIFA President at the FIFA Congress in March.
Infantino Scraps FIFA Private Investment Plan After Widespread Opposition
