{"id":840035,"date":"2026-08-01T08:45:12","date_gmt":"2026-08-01T08:45:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/840035\/"},"modified":"2026-08-01T08:45:12","modified_gmt":"2026-08-01T08:45:12","slug":"fifa-world-cup-infantino-scraps-us20b-investment-plan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/840035\/","title":{"rendered":"FIFA World Cup: Infantino scraps US$20B investment plan"},"content":{"rendered":"

FIFA\u2019s proposed plan to sell private stakes in upcoming World Cup tournaments that sparked backlash from fans and soccer associations around the world has been scrapped, FIFA president Gianni Infantino said<\/a> in a statement Friday.<\/p>\n

\u201cHaving 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,\u201d Infantino\u00a0said. \u201cOur purpose has always been – and will always be – to unite and improve.<\/p>\n

\u201cAs a result, this proposal will not proceed.\u201d<\/p>\n

FIFA and Infantino had announced plans Tuesday to\u00a0set up a separate subsidiary\u00a0\u2013 involving private equity investment \u2013 that would control the commercial and operational rights to one of the globe\u2019s biggest sporting events.<\/p>\n

The proposal had since come under intense scrutiny and criticism from many around the world, with UEFA saying the \u201csoul and governance\u201d of the game are under threat. FIFA, though, said that the money generated will be reinvested back into the sport.<\/p>\n

Infantino said it is now his goal to reunite the world of football following this debacle.<\/p>\n

\u201cMoving 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,\u201d the 56-year-old concluded.<\/p>\n

Opposition to Infantino<\/p>\n

Infantino had found himself increasingly isolated as pressure and opposition built up\u00a0against world soccer\u2019s governing body\u2019s\u00a0plan to inject private money into its competitions.<\/p>\n

European soccer\u2019s governing body UEFA threatened Thursday to boycott future men\u2019s and women\u2019s World Cups in reaction to the proposal. North and Central America and Caribbean governing body CONCACAF and the Asian Football Confederation (AFC) later came out with statements rejecting FIFA\u2019s proposal, but stopping short of a boycott. A spokesperson for the Oceania Football Confederation said the FIFA proposal would be addressed by the entity\u2019s executive committee in August.<\/p>\n

More pressure built up earlier Friday as Infantino\u2019s senior advisor, Carlos Cordeiro, resigned from his position in protest at the proposal, saying: \u201cI cannot stand by while FIFA considers selling a stake in the World Cup. Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. \u2026 It is a bad deal for FIFA\u2019s Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.\u201d<\/p>\n

\"\"FIFA President Gianni Infantino speaks during a news conference at the stadium in Mexico City, Wednesday, June 10, 2026, a day before the opening FIFA World Cup match between Mexico and South Africa. (AP Photo\/Eduardo Verdugo, File) FIFA President Gianni Infantino speaks during a news conference at the stadium in Mexico City, Wednesday, June 10, 2026, a day before the opening FIFA World Cup match between Mexico and South Africa. (AP Photo\/Eduardo Verdugo, File) <\/p>\n

Kevin Lamour, FIFA\u2019s chief operating officer, also spoke out against Infantino.<\/p>\n

\u201cIt is the project of one person,\u201d Lamour said in a statement to The Associated Press on Friday.<\/p>\n

He added: \u201cNot only must this project not go ahead \u2026 but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.\u201d<\/p>\n

Lamour also included this: \u201cAnd if that means I lose my job, then so be it. I will understand and respect that decision. At least I\u2019ll sleep well tonight.\u201d<\/p>\n

Friday\u2019s developments came after FIFA had issued a\u00a0response<\/a>\u00a0Thursday night to the backlash by not backing down, seeking to \u201creaffirm\u201d its plan on moving forward with the consultation process.<\/p>\n

\"\"FIFA President Gianni Infantino, left, and President Donald J. Trump talk as they wait to congratulate the Spanish players after the World Cup final soccer match between Spain and Argentina in East Rutherford, N.J., near New York, Sunday, July 19, 20… FIFA President Gianni Infantino, left, and President Donald J. Trump talk as they wait to congratulate the Spanish players after the World Cup final soccer match between Spain and Argentina in East Rutherford, N.J., near New York, Sunday, July 19, 2026. (AP Photo\/Jacquelyn Martin) <\/p>\n

Defending its FIFA Forward Enterprise (FFE), the sport\u2019s global governing body said it \u201cacknowledges and respects feedback and concern aired in public,\u201d and placed blame for the furor on \u201cerroneous\u201d reporting in the media.<\/p>\n

Earlier on Thursday, the unanimous vote in support of a boycott by UEFA\u2019s 55 member associations delivered an authoritative statement, pitting the sport\u2019s richest and most important national associations\u00a0against\u00a0Infantino<\/a>.<\/p>\n

CNN has reached out to UEFA, Concacaf, and the AFC for comment.<\/p>\n

\"\"FIFA President Gianni Infantino follows a friendly soccer match between Iran and Costa Rica, in Antalya, southern Turkey, Tuesday, March 31, 2026. (AP Photo\/Riza Ozel) FIFA President Gianni Infantino follows a friendly soccer match between Iran and Costa Rica, in Antalya, southern Turkey, Tuesday, March 31, 2026. (AP Photo\/Riza Ozel) Criticism from all angles<\/p>\n

Aside from the lack of transparency around the process, much of the criticism of FIFA\u2019s FFE proposal was centered around the involvement of private investors purchasing roughly 20% of the FFE subsidiary, in particular the main proposed investor group, Thrive Eternal, headed up by Joshua Kushner \u2013 brother of Jared Kushner, the son-in-law of US President Donald Trump.<\/p>\n

There was a fear that investors, seeking a return on their investments, would push to influence matters beyond their remit to maximize profits.<\/p>\n

With FIFA\u2019s proposed plan now thrown to the wayside, all attention turns to the next major FIFA international event, the Under-20 Women\u2019s World Cup, set to kick off on September 5 in Poland and the upcoming 2027 Women\u2019s World Cup in Brazil.<\/p>\n

CNN\u2019s Christina Macfarlane, Aleks Klosok, and Thomas Schlachter have contributed to this report.<\/p>\n

Jacob Lev and Patrick Sung Cuadrado, CNN<\/p>\n

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