Fifa president Gianni Infantino has confirmed that the controversial plan to sell off stakes in the World Cup to private investors has been abandoned, following intense global criticism. In a statement, Infantino admitted that the project "has created divisions of a nature that are no longer in the interest of the objective," effectively terminating the proposal.
Proposal Collapses Amid Widespread Opposition
The plan, known as Fifa Forward Enterprise (FFE), was unveiled earlier this week and aimed to raise hundreds of millions of dollars by selling a significant stake in the commercial rights of the men's and women's World Cups, as well as the Club World Cup. It promised to distribute over $10bn (£7.5bn) back to Fifa's 211 member associations, with an optional $20m (£14.8m) for participating members. However, the scheme faced immediate and fierce resistance from football governing bodies worldwide.
Uefa had threatened to boycott future Fifa tournaments if the proposal was not shelved, while other confederations also voiced their opposition. Carlos Cordeiro, a senior advisor to Infantino, resigned on Friday in protest, and Fifa's chief operating officer, Kevin Lamour, issued a scathing rebuke, citing a "serious lack of respect" in the way Infantino sought to force the plan through with minimal consultation.
Infantino's Climbdown
Infantino's decision to back down comes amid speculation that Thrive Capital, the venture capital firm leading the proposed investor group, had also expressed doubts after a week that threatened to tear the sport apart. The backlash has put Infantino's previously secure presidency under severe pressure, and it remains uncertain whether his climbdown will be enough to save his position.
"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," Infantino said. "Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed. Moving 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."
Rejection by Confederations
The plan was roundly rejected by European countries' football associations, who agreed upon a boycott at an emergency meeting on Thursday. Concacaf and the Asian Football Confederation also made their distaste clear, with the latter issuing a stinging statement on Friday morning. While Infantino retains a stronghold in Africa, he was left with no credible path to push the plan through, as the numbers eluded him.
Attention now turns to Infantino's future, given the scale of the internal revolt within Fifa and the severe hit to his standing. It is unlikely that his withdrawal of the plan will sway member associations who had already become deeply disenchanted by his handling of the Folarin Balogun affair, which unfolded three weeks previously during the World Cup. Some observers have wondered whether recourse to Fifa's reserves, which stand at around $4bn (£2.97bn), for the promised FFE cash would convince enough federations to save his skin.
Future Leadership Under Scrutiny
Uefa and other confederations have stepped up their search for candidates to run against Infantino in next year's Fifa election, in which he had been expected to comfortably win a fourth term. Their appetite is unlikely to change, and time will tell whether Infantino can turn his fortunes around after an episode that has had a shattering impact on his credibility.
