Fifa ends contentious World Cup investment proposal

Fifa president Gianni Infantino announced he has scrapped the controversial proposal to sell stakes in the governing body's major competitions following widespread opposition. Infantino stated that it had become evident the project had "created divisions" that were "no longer in the interest" of its original objective. Consequently, he confirmed that the proposal would not proceed.

Infantino had previously offered all 211 member associations $40 million (£30 million) if they supported the proposal for private investments in tournaments, including the men’s and women’s World Cups. Following the announcement of the proposal's cancellation, Shaikh Salman bin Ebrahim Al Khalifa, president of the Asian Football Confederation (AFC), expressed support for its withdrawal, emphasizing that the future of global football should be shaped through proper consultation and respect for governance structures.

European football's 55 member associations, Uefa, voted to boycott World Cups if the plans went ahead, while Fifa's chief operating officer Kevin Lamour commented that the governing body’s administration had been "deceived" regarding the project. Carlos Cordeiro, a senior adviser to Infantino, resigned in protest over the proposal, calling it "a bad deal for football" that would "mortgage football's future."

This followed opposition from major confederations, with Concacaf rejecting the proposal and expressing loss of faith in Infantino. The AFC showed solidarity with Uefa and Concacaf, while UK Prime Minister Andy Burnham labeled Infantino as "the wrong man" to lead Fifa.

As Infantino seeks re-election for a fourth term at the Fifa Congress in March, he now intends to reunite all parties in the "spirit of shared interest" in football. Despite earlier assertions that Fifa would continue with the investment plans, it became apparent that Infantino required the backing of the majority of member associations.

Uefa and Concacaf's opposition meant that if their members voted according to their governing body’s stance, 136 nations could oppose Infantino's plan. The AFC, along with the governing bodies of Africa and Oceania, was scheduled to deliberate the proposal in August, while Conmebol sought further information from Fifa regarding the plan's implications.

Infantino's intention was to establish a commercial subsidiary to manage key events, allowing external investors to purchase non-controlling stakes in a new entity intended to drive growth. While Infantino had set a deadline of September 19 for associations to accept the proposal to access initial funds, the substantial opposition made its advancement unlikely.

Concerns had been raised about a 25-page document prepared by JP Morgan, which projected a potential increase in payouts for member associations starting in the 2035-2039 cycle. Infantino's plans involved involving Thrive Eternal, an American venture capital firm led by Joshua Kushner, in this new venture. Nonetheless, the proposal sparked significant dissent within Fifa, leading to upheaval among its leadership, including Cordeiro’s resignation and criticisms from Lamour regarding the nature of the initiative.