FIFA President Gianni Infantino has been forced to withdraw his plan to sell commercial shares of the World Cup after a strong wave of protests from football federations, FIFA inside and threats of boycott from European countries.
Previously, the head of FIFA proposed the establishment of a commercial company worth about 20 billion USD to manage tournaments such as the World Cup and FIFA Club World Cup, with the participation of private investors. Including the company of Joshua Kushner - younger brother of Jared Kushner, son-in-law of US President Donald Trump.
However, just a few days after the plan was announced, FIFA had to change its position. In his latest statement, Infantino confirmed that the proposal would not be implemented.
After carefully listening to all opinions, it is clear that this project has created divisions and no longer serves the original goal. Therefore, the proposal will not be continued" - Infantino said.
This decision was made in the context of increasing pressure from within FIFA itself. Carlos Cordeiro, FIFA's senior advisor, resigned to protest the plan.
I cannot stand idly by when FIFA considers selling shares at the World Cup" - Cordeiro emphasized, while calling on other FIFA leaders to speak out.
Not long after, FIFA CEO Kevin Lamour also publicly opposed this project. He said that the plan was built without transparency and many FIFA employees were put in a done-or-done situation.
This is an individual project. It should not continue and it is time for world football leaders to ask the right questions" - Lamour declared.
The biggest pressure comes from UEFA. All 55 member federations of European football simultaneously announced that they would boycott all FIFA tournaments if the plan was approved, affirming that "there are values of football that cannot be bought and sold".
According to UEFA, FIFA's proposal is not only a management mistake but also goes against the role of protecting the core values of world football. After that, the Confederation of North, Central America and the Caribbean (Concacaf) and the Asian Football Confederation (AFC) also expressed their opposition.
According to the initial plan, FIFA intended to separate all commercial activities of the men's World Cup, women's World Cup and FIFA Club World Cup into a new company worth about 20 billion USD. Private investors will hold 20% of the shares, in return FIFA expects to have more financial resources to support member federations around the world.
After withdrawing the proposal, Infantino said he would organize dialogues with federations in the near future to find more appropriate solutions for the development of global football.
However, the project's failure is seen as a strong blow to Infantino's prestige. The head of FIFA is considered almost certain to be re-elected for a new term, but this crisis may shake his position before the FIFA President election scheduled for March next year in Morocco.
