FIFA‘s decision follows widespread opposition from football stakeholders around the world.
The proposal was withdrawn after criticism from several football confederations and growing concerns that the plan was creating divisions within the global game.
GIANNI INFANTINO CONFIRMS U-TURN
The proposed project would have operated under a new commercial subsidiary called FIFA Forward Enterprise (FFE).
The plan aimed to sell around a 20% stake in the business. Reports valued the company at $20 billion, with FIFA hoping to raise up to $4.2 billion to invest in football development.
The proposal attracted criticism after reports linked a New York investment firm founded by Joshua Kushner to the project. Critics questioned the level of private investment, governance and transparency surrounding the proposal.
In an official statement, Infantino admitted the project had moved away from FIFA’s primary goal of uniting world football. He said the governing body had listened to different views before deciding not to continue with the proposal.
“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,” FIFA said.
“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
FIFA FACES GLOBAL OPPOSITION
The proposal faced strong resistance from UEFA, with reports claiming all 55 member associations backed opposition to the project.
Other confederations, including Concacaf and the Asian Football Confederation (AFC), also raised concerns about the plan. The debate also led to the resignation of Carlos Cordeiro, Infantino’s senior adviser and former US Soccer president.
Infantino has now pledged to work with football stakeholders to explore alternative ways of growing the game around the world.
The decision ends one of the most controversial commercial proposals in FIFA’s recent history and shifts the focus back to the governing body’s future development strategy.
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