FIFA has abandoned its controversial proposal to allow private investors to buy stakes in its major football competitions, including the men’s and women’s FIFA World Cups, following strong opposition from football governing bodies across the world.
FIFA President Gianni Infantino announced the decision in a statement, saying the plan would no longer move forward because it had become a source of division within global football.
“It has become clear that this proposal has created divisions that are no longer in the interest of its original objective,” Infantino said.
“As a result, this proposal will not proceed.”
The proposal would have seen FIFA establish a new commercial subsidiary to manage its biggest tournaments while allowing outside investors to purchase minority, non-controlling stakes in the business. FIFA argued that the initiative would generate more revenue for football development and increase financial support for its 211 member associations.
As part of the proposal,
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