Fifa: Infantino stops investor plans for World Cups

The world football association Fifa is abandoning its controversial investor plans. The proposal will not be pursued further, said association president Gianni Infantino in a statement published overnight. “After carefully listening to all points of view, it has become clear that the project has created divisions that, regardless of the level of support, are no longer in the interests of the original goal,” said Infantino, explaining his abrupt about-face.

Fifa’s plans around the powerful President Infantino envisaged bringing in billions of dollars from the potential sale of part of their commercial rights to, for example, the World Cup. To implement this, Fifa wanted to establish the subsidiary Fifa Forward Enterprise (FFE). According to reports, the world association set a deadline of September 19th for approval of the planned investor deal and promised a special payment in return. All of that is now off the table.

Infantino went on to explain that Fifa’s goal is to always unite and improve. “Therefore, this proposal will not be pursued further.” It is his intention to bring all interested parties together again in the coming days and weeks “in the spirit of common interest in our sport, with the aim of further advancing football everywhere, especially in those countries that need our support most.”

Uefa threatened to boycott the World Cup

Fifa bowed to the pressure that had increased in recent days. The European UEFA not only heavily criticized the plans, but even threatened a World Cup boycott. “No Uefa national teams will take part in any Fifa competition as long as these proposals continue,” Uefa said after an emergency meeting.

“Europe’s position is clear. We will never lend our legitimacy to this model. Nobody has the moral right to sell something that they only have in trust managed for the next generation,” wrote the European Football Union.

Concacaf, which is responsible for North and Central America and the Caribbean, and the Asian football umbrella organization AFC also clearly distanced themselves from Infantino and his plans. The South American football association Conmebol, however, initially did not take a substantive position. Instead, the continental association announced that it would continue to examine the plans and requested additional information from Fifa.

Senior Infantino adviser resigned

In addition crumbledsupport for Boss Infantino also within FIFA. Carlos Cordeiro, a senior adviser to the 56-year-old, resigned in protest against the plan. He chose drastic words.

“As a senior advisor to the Fifa president, a former banker and lifelong football fan, I cannot stand idly by as FIFA considers selling a stake in the World Cup,” the top official wrote on the LinkedIn platform.

The former president of the US association, who has worked for FIFA since 2021, also wrote: “It is a bad deal for FIFA member associations, a bad deal for football and a bad deal for the long-term future of this sport.” This business will no longer exist.