FIFA PRESIDENT GIANNI INFANTINO ABANDONS PLAN TO SELL WORLD CUP PROFITS TO PRIVATE EQUITY AFTER BACKLASH. (PHOTO).
FIFA president Gianni Infantino abandons plan to sell World Cup profits to private equity after backlash FIFA President Gianni Infantino has abandoned a controversial proposal to sell a stake in the organization’s World Cup-related profits to private investors after facing strong opposition from soccer officials around the world. Infantino announced Saturday that the plan would not move forward, saying the proposal had created divisions that no longer aligned with FIFA’s goal of uniting and improving the sport. The plan called for the creation of a $20 billion company that would oversee FIFA’s commercial operations, including revenue from the men’s and women’s World Cups and Club World Cups. The proposed venture would have included private investors, including a New York-based investment firm founded by Joshua Kushner, the younger brother of Jared Kushner. The proposal drew criticism from soccer organizations across multiple regions. European soccer leaders said their nations woul...

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