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 would boycott FIFA competitions in protest, while governing bodies representing North America and Asia also opposed the idea.

Opponents argued that the World Cup belongs to the sport itself and should not be controlled in part by private investors.

The controversy escalated after Carlos Cordeiro, a senior FIFA adviser and former U.S. Soccer president, resigned from his position. Cordeiro said he could not support a plan to sell a stake in the World Cup and urged other FIFA officials to address their concerns.

FIFA chief operating officer Kevin Lamour also criticized the proposal, saying employees were not given enough information about the plan and arguing that the project should not continue.

Infantino had defended the proposal, insisting FIFA was not selling control of soccer. However, opposition continued to grow among soccer leaders and officials, eventually leading to the plan being withdrawn.

The decision could create new challenges for Infantino, who has remained firmly in control of FIFA after being reelected without opposition in 2019 and 2023. FIFA rules allow him to serve another term, but the failed investment proposal has raised renewed questions about his leadership and future direction for the organization.