Fifa President Gianni Infantino has withdrawn plans to sell a minority share in the organisation’s World Cup and events business after the proposal triggered widespread opposition from member associations and football confederations.
Fifa had hoped to raise up to $4.2bn by selling about 20% of a new commercial unit that would oversee the World Cup and other Fifa competitions. The plan was announced on Tuesday but quickly met resistance, with critics arguing that football’s biggest tournament should not be turned into an investment product.
Uefa, European football’s governing body, had threatened to boycott Fifa competitions and accused the organisation of putting the sport’s “soul” up for sale.
“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,” Infantino said in a statement on Friday evening.
“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
Fifa had said the sale of a minority stake in its commercial operations could generate billions of dollars for global football development. The governing body also accused sections of the media of portraying the proposal inaccurately.
Infantino had written to Fifa’s member associations to say each would receive $40m if they approved the plan by 19 September.
“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,” Infantino said.
The opposition gathered pace throughout the week. On Thursday, Uefa’s 55 national associations voted unanimously to boycott all Fifa tournaments unless the proposal was withdrawn.
Uefa said the World Cup “cannot be treated as an investment product.”
The 41-member CONCACAF federation, which represents North America, Central America and the Caribbean, also rejected the plan during a meeting on Thursday. On Friday, the Asian Football Confederation, made up of 47 members, said it “stands in solidarity” with Uefa and CONCACAF.
Together, Uefa, CONCACAF and the AFC represent 143 national associations, significantly more than half of Fifa’s 211 members. A majority of Fifa members would have been required to support the proposal for it to proceed.
There was also disagreement within Fifa. Infantino’s senior adviser Carlos Cordeiro resigned with immediate effect on Friday, describing the proposal as “a bad deal for football”.
Fifa Chief Operating Officer Kevin Lamour said staff had been “deceived” by Infantino and labelled the initiative a “project of one person”.
Infantino, 56, is seeking re-election next year. Victor Montagliani, the head of North American football, is reportedly considering challenging him.
British Prime Minister Andy Burnham also criticised Infantino, telling reporters that he was “the wrong man to lead the organisation.”
Under the proposed structure, Fifa would have created a $20bn subsidiary called Fifa Forward Enterprise, or FFE, to manage the World Cup and its other events.
Fifa said Thrive Eternal, a fund operated by Thrive Capital and founded by Joshua Kushner, was expected to lead the proposed investor group. Joshua Kushner is the brother of Jared Kushner, the son-in-law of United States President Donald Trump.
Trump and Infantino have developed a close relationship, with the United States co-hosting the recent 2026 World Cup. Trump said he had not discussed the external investment proposal with Infantino.
