FIFA President Gianni Infantino has abandoned his proposal to sell stakes in World Cup profits to private equity investors following intense, widespread backlash from across the global soccer community, according to reports from Apnews. Infantino announced that the controversial proposal would not proceed, stating that the initiative had caused severe divisions.
Gianni Infantino Scraps $20 Billion World Cup Private Equity Plan
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 in a statement. Our purpose has always been — and will always be — to unite and improve. As a result, this proposal will not proceed.
Widespread Opposition and Threatened Boycous
The scrapped initiative originally involved creating a $20 billion subsidiary company to manage commercial businesses, including men’s and women’s World Cups and Club World Cups, with 20% owned by private investors. The anchor investor was identified as a New York-based investment firm created by Joshua Kushner, the younger brother of Jared Kushner, who is the son-in-law of U.S. President Donald Trump.
The plan drew mounting pushback every day following its Tuesday announcement. On Thursday, UEFA’s 55-member nations agreed to boycott the World Cup and all other FIFA competitions in protest. ESPN noted that regional bodies including North America’s CONCACAF and the Asian Football Confederation also joined in opposing the plan.
Some things are simply too important to sell,
UEFA stated. The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.
The threatened European boycott cast immediate uncertainty over upcoming events, notably the Women’s Under-20 World Cup scheduled to start on Sept. 5 in Poland.
High-Profile Resignations and Staff Revolt
Internal dissent proved pivotal in unraveling the proposal. Carlos Cordeiro, a senior adviser to Infantino, a former Goldman Sachs banker, and a representative on the White House Task Force for the World Cup, resigned from his post. I cannot stand by while FIFA considers selling a stake in the World Cup,
Cordeiro said in a statement issued on Friday.
Following Cordeiro’s departure, FIFA chief operating officer Kevin Lamour issued a statement to Local10 alleging that FIFA staff were deceived by a lack of openness regarding the planning over recent months. Lamour, a longtime colleague of Infantino at both FIFA and UEFA, called the initiative a solo endeavor.
It is the project of one person,
Lamour wrote. Not only must this project not go ahead … but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.
Political Stakes and Future Timeline
Reporting detailed by Mercurynews indicates that this misstep could introduce political vulnerability for Infantino. Having been reelected unopposed in 2019 and 2023, Infantino is permitted one final four-year term under existing FIFA statutes.
The deadline for the next presidential contest is set for Nov. 18, exactly four months prior to the scheduled vote in Rabat, Morocco, where FIFA maintains its African headquarters. While Infantino’s position had previously appeared secure despite past unease regarding his administrative style, the failed private equity push has left his standing more tenuous.
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