FIFA president Gianni Infantino has scrapped his controversial plan to sell stakes in the World Cup to private investors.

Facing backlash throughout the sport, a World Cup boycott from Europe and criticism from high-ranking officials inside FIFA itself, Infantino said the proposed FIFA Forward Enterprise project “will not proceed.”

The news came Friday night with the governing body releasing a statement “attributable to the FIFA President.”

“The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed,” the statement read. “And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.

“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.

“Our purpose has always been — and will always be — to unite and improve.

“As a result, this proposal will not proceed.”

The statement ended with Infantino saying he plans to “bring all interested parties back together in the coming days and weeks” with the goal of discussing ways to grow the sport of soccer globally.

Infantino’s concession concluded a tumultuous week. The proposal was introduced just Tuesday, with FIFA projecting tens of billions in new investment by bringing together its commercial rights — encompassing broadcast, sponsorship, ticketing and licensing — under a new commercial venture and selling stakes in that venture to private equity.

Infantino had defended his plan as beneficial for member nations that could access increased development money. FIFA also argued that outside investors wouldn’t have an operational role in the tournament and would invest in a subsidiary rather than FIFA itself.

That didn’t soften what many saw as an attempt to hand minority ownership in the world’s biggest tournament to private investors with their own aims.

Member nations of UEFA (Europe’s governing body) voted to boycott World Cups moving forward if the plan went through. Members of CONCACAF, representing North America, Central America and the Caribbean, also “unequivocally” rejected the proposition.

Carlos Cordeiro, the senior adviser to Infantino for the past five years, resigned earlier Friday in protest of the FIFA Forward Enterprise plans. Cordeiro, 70, is the former president of U.S. Soccer (2018-20) and a Goldman Sachs banker before that.

“Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA’s Member Associations, a bad deal for football, and a bad deal for the long-term future of the game,” Cordeiro wrote in a lengthy statement concerning his resignation.

“Football has been central to my life, and after more than 35 years in banking, I understand both the value of this asset and the consequences of giving part of it away. That is why this proposal should be rejected.”

Cordeiro pointed out that FIFA “sits on billions of dollars in reserves” and carries no debt as an organization.

“If Member Associations believe additional investment is needed to develop the game, FIFA already has the financial capacity to provide that support from its existing resources,” Cordeiro said. “Against that backdrop, selling a permanent stake in football’s most valuable asset to raise $4.2 billion makes little sense. It is mortgaging football’s future without any compelling justification.”

Meanwhile, the chief operating officer of FIFA also blasted Infantino’s desire to introduce private investors into the tournament’s financing, calling it “the project of one person.”

Kevin Lamour said in a statement to the Associated Press that staff inside FIFA felt “deceived” by Infantino and the opaque nature of the process, adding they “deserve better than contempt and intimidation.”

“It is the project of one person,” Lamour wrote. “Not only must this project not go ahead … but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.”

The Frenchman went on to add, “And if that means I lose my job then so be it. I will understand and respect that decision. At least I’ll sleep well tonight.”

Lamour campaigned for Infantino in the 2016 FIFA presidential election.

–Field Level Media

UEFA members voted unanimously Thursday to boycott future World Cups if FIFA moves forward with plans to sell stakes in its competitions to private investors.

Later Tuesday, CONCACAF announced that its 41 members from North America, Central America and the Caribbean also are opposed to FIFA’s proposal.

The decision by the Union of European Football Association’s 55 member nations to “unequivocally reject” FIFA president Gianni Infantino’s recent plan was made during an emergency virtual meeting.

“The World Cup cannot be treated as an investment product,” UEFA said in a statement. “It is one of football’s greatest sporting legacies. It has been built over generations by players, national teams and supporters across every continent. No part of it should ever be surrendered to private investors. The World Cup is not for sale.”

FIFA responded hours later with a press release that read in part, “Nobody is selling football. This is not something FIFA would ever entertain.”

FIFA outlined a plan Tuesday to raise $20 billion in outside investments by selling shares to a private equity group, the FIFA Forward Enterprise (FFE). The proposal will soon be presented to the 211 member associations and FIFA’s 37-member council, which would be the sole final decision-makers, a FIFA spokesperson said.

FIFA outlined a plan Tuesday to raise $20 billion in outside investments by selling shares to a private equity group known as FIFA Forward Enterprise (FFE). The proposal will soon be presented to the 211 member associations and FIFA’s 37-member council, which would be the sole final decision-makers, a FIFA spokesperson said. (edited)

FIFA said the move is part of a plan that could triple the amount of development money for member associations, allowing access to up to $20 million in one-off capital to spend on improvements to infrastructure, coaching, national teams, competitions, grassroots football and the women’s game.

ESPN reported that representatives of more than 50 associations took the floor in a unified response during the UEFA meeting on Thursday to express their anger.

“As a result of today’s discussion,” the UEFA statement continued, “no UEFA national teams will participate in any FIFA competition for so long as these proposals remain alive, unless this proposal has been abandoned in its entirety and binding assurances have been given that FIFA will never again open its governance or competitions to private ownership.

“Nobody should be in any doubt: UEFA and its national associations will oppose these plans with absolute determination.

“There are moments when institutions are judged not by what they are prepared to accept, but by what they refuse to compromise. This is one of those moments. Some things are simply too important to sell. The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.”

UEFA said there was no “meaningful consultation” before FIFA announced its plan.

“It is both irresponsible and indefensible that a proposal of such significance for football was conceived in secret and brought to the brink of approval without any meaningful consultation with those entrusted with stewarding the game,” UEFA said.

“This is not merely a profound failure of leadership, but an abdication of FIFA’s duty as the custodian of world football. National associations around the world are now presented with an ultimatum: accept the irreversible capture of football’s greatest competitions or bear the consequences.

“This is not a ‘democratic decision’, but governance by intimidation — an act of coercion unworthy of an institution entrusted with the stewardship of the global game.”

UEFA members include Spain, the 2026 World Cup champions; along with Germany, France and England.

The first chance for UEFA to implement the boycott will be in September when Poland is scheduled to host the Women’s U-20 World Cup.

UEFA said its list of concerns includes the potential influence of outside investors.

“The moment external investors acquire ownership interests in FIFA competitions, football changes forever. Commercial return becomes a permanent obligation,” UEFA said.

“Investor expectations become a daily pressure. From that moment onwards, every decision on the international calendar, every decision on competition formats and every decision shaping the future of football is no longer driven by what best serves the game, but by what best serves shareholders.

“This model has no place in world football. Football’s future cannot be dictated by the expectations of those whose first duty is to maximise financial return. Nor can the interests of national associations, leagues, clubs, players and supporters become subordinate to investor returns.

“Football cannot mortgage its future for financial gain. Europe’s position is clear. We will never lend this model our legitimacy. No one has the moral authority to sell what they merely hold in trust for the next generation.”

CONCACAF’s statement about Infantino’s proposal read, in part, “The membership expressed deep concerns about the lack of due process surrounding the proposal, the artificially short deadline imposed, and the absence of any review or approval by the relevant FIFA governance bodies. In addition, the need for private equity investment to fund new and existing FIFA Forward programs following the most profitable FIFA World Cup in history was questioned.”

CONCACAF did not reference a boycott in its press release.

FIFA’s statement in response, which it termed “clarifications,” cited what it maintained were erroneous media reports about the proposal.

FIFA wrote, “We have heard the feedback provided by the respective confederations in relation to the proposed establishment of FIFA Forward Enterprise (FFE) and would like to address the issues that have surfaced since the initial media reporting on Tuesday.

“We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation. …

“FFE has been proposed solely to ensure that all FIFA Member Associations (MAs) have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, and that this does not come at the cost of either the spirit or the governance of FIFA or football itself.”

–Field Level Media