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FIFA Abandons Controversial Plan to Sell World Cup Stakes Following Global Backlash
On Friday, FIFA announced it is scrapping a contentious proposal to sell ownership stakes in the World Cup to private investors after receiving strong opposition from soccer confederations worldwide.
Earlier this week, FIFA President Gianni Infantino unveiled a plan to establish FIFA Forward Enterprise (FFE), a $20 billion initiative that would have offered a 20% ownership share to private investors. The investment process was to be managed by Thrive Eternal, an investment firm linked to Joshua Kushner, brother of Jared Kushner.
However, the proposal met significant resistance. The Union of European Football Associations (UEFA) declared that its 55 national teams would boycott all upcoming FIFA competitions if the plan moved forward. Likewise, the Confederation of North, Central America and Caribbean Association Football (CONCACAF) and the Asian Football Confederation voiced their opposition.
Even within FIFA’s ranks, dissent emerged. Senior adviser Carlos Cordeiro, former president of the U.S.
Soccer Federation, resigned in protest. In his resignation statement, Cordeiro emphasized his lack of involvement in the plan and condemned it as detrimental to FIFA member associations, the sport, and the game’s future.
Responding to the widespread criticism, Infantino said, “Having listened carefully to all the views, it has become clear that the project has created divisions… that are no longer in the interest of the objective set out in the first place. Our purpose has always been – and will always be – to unite and improve.”
He confirmed that the proposal “will not proceed,” signaling a retreat from what had become a deeply divisive initiative within the global soccer community.