FIFA Abandons Plan to Sell World Cup Stakes Amid Opposition
FIFA has decided to halt a contentious plan to sell stakes in the World Cup to private investors, following strong opposition from European nations and internal dissent. This decision represents a significant setback for FIFA President Gianni Infantino, who proposed the commercial venture earlier in the week. The plan aimed to capitalize on FIFA tournaments, including the World Cup, but faced resistance just weeks after a profitable men’s tournament in North America.
The most debated aspect involved selling a minority stake to private investors, such as a firm led by Joshua Kushner, related to Jared Kushner, former President Trump’s son-in-law. Infantino, recognizing the project’s divisive nature, stated, “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.” He emphasized unity and improvement, thereby deciding not to proceed.
European Nations’ Boycott Threats
From the outset, the plan faced vehement opposition. European countries even threatened to boycott the World Cup unless FIFA completely abandoned the proposal. UEFA, Europe’s soccer governing body, argued that the deal equated to “selling” football. CONCACAF and AFC also opposed, though they stopped short of threatening a boycott.
FIFA faced internal challenges as well. Carlos Cordeiro, a top adviser to Infantino, resigned due to his opposition. Kevin Lamour, FIFA’s chief operating officer, criticized the proposal as Infantino’s sole initiative. He told the Associated Press that FIFA staff were unaware until its public introduction and stated, “At least I’ll sleep well tonight,” emphasizing his willingness to face termination over his stance.
Infantino’s Leadership and Future
This incident is a major blow to Infantino, who previously guided FIFA to record profits. The organization anticipated earnings of $15 billion over four years, largely from the men’s tournament in North America. Infantino’s tenure has not been without controversy, including issues like high ticket prices and awarding a “Peace Prize” to President Trump.
Despite these challenges, Infantino, likely preparing for a third term bid, touted FIFA’s financial success, highlighting distribution among its 211 members. However, selling World Cup stakes exceeded acceptable limits, causing widespread internal and external pressure. Infantino expressed his commitment to repairing relationships, stating, “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.”