FIFA Shelves $4.2 Billion Investment Plan After Global Backlash

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FIFA President Gianni Infantino.

FIFA has abandoned plans to sell a stake in its commercial operations to outside investors following strong opposition from football officials worldwide and growing divisions among the organisation's senior leadership, the New York Post reported on Friday.

The governing body had sought to raise up to $4.2 billion by selling around a 20% stake in a newly created commercial entity, valuing the business at approximately $20 billion. However, the proposal is no longer being pursued, according to the report, which cited four sources familiar with the matter.

The plan, unveiled earlier this week, faced immediate criticism led by European football's governing body, UEFA, which accused FIFA of putting the sport's "soul" up for sale.

On Thursday, UEFA's 55 member associations unanimously voted to boycott all FIFA competitions, less than two weeks after Spain's men's national team were crowned world champions.

The controversy also prompted senior departures within FIFA. Carlos Cordeiro, a senior adviser to FIFA President Gianni Infantino, resigned on Friday in protest over the proposal. Meanwhile, FIFA Chief Operating Officer Kevin Lamour told staff they had been "deceived" by Infantino, describing the initiative as a "project of one person".

Under the proposal, FIFA planned to establish a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to manage the World Cup and its other competitions. The organisation maintained that "nobody is selling football" and argued that media reports had misrepresented the proposal.

FIFA said the proposed investor group was expected to be led by Thrive Eternal, a fund managed by Thrive Capital, which was founded by Joshua Kushner, the brother of Jared Kushner, US President Donald Trump's son-in-law.

In a letter sent to all member associations, Infantino said each association would receive $40 million if it approved the proposal by 19 September.

FIFA stressed that it would not proceed with the plan without the backing of a majority of its member associations.



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