FIFA president Gianni Infantino dropped his plan to open the organization to private investors on Saturday, retreating after a wave of opposition that included a boycott threat from UEFA.
Infantino said in a statement that after listening to all points of view, it had become clear the project had created divisions no longer in the interest of its original goal. He said the proposal would not go forward.
The plan, announced on July 28, would have created a new entity called Fifa Forward Enterprise through which private investors could manage FIFA’s commercial and event operations. FIFA had sought to raise up to $4.2 billion by selling minority stakes of up to 20% in the new company, as part of a broader goal to raise $10 billion for football development over four years.
The proposal drew immediate backlash. UEFA, which represents 55 European federations including seven of the last ten world champions, voted unanimously to threaten a boycott of all FIFA competitions, including the World Cup, if the plan was not dropped. UEFA also said Infantino had lost its confidence and that of many other members of the football family.
Infantino had already been weakened by the recent resignation of his chief advisor, Carlos Cordeiro.
Former FIFA president Sepp Blatter said on X that selling football’s jewels to private investors meant selling part of the sport and its soul.
Asian Football Confederation president Shaikh Salman called for transparency on any future initiative of similar scale. The Mexican Football Federation said it welcomed the unity shown by all confederations and federations in the interest of football.
