Infantino backs down: FIFA abandons World Cup investment plan

FIFA’s plan, spearheaded by Gianni Infantino, to privatize part of the World Cup has collapsed within a matter of days. In a statement, soccer’s worldwide governing body has confirmed it is abandoning the proposal after facing overwhelming opposition from national federations across the globe.

It seemed only a matter of time before Infantino’s controversial project unraveled, particularly after Carlos Cordeiro, FIFA’s senior adviser and a key ally of the president, resigned on Friday. The rift had been growing ever since details emerged of the initiative, named FIFA Forward Enterprise, to open World Cup-related assets to private investment. Europe’s soccer authority, UEFA, led the resistance, and now Infantino has lost the battle.

Infantino’s staunch defense of the creation of FIFA Forward Enterprise ultimately proved futile. “Nobody is selling football,” he insisted just hours earlier. In the end, however, the FIFA chief was forced to back down, leaving his standing as the most powerful figure in world soccer under increasing scrutiny.

FIFA president Infantino’s statement in full:

“The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed. And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.

“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.

“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.”

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