Gianni Infantino’s plan to sell stakes in the World Cup is dead after the heroics of UEFA, CONCACAF, the AFC and two members of the FIFA hierarchy.
While it appears the FIFA president will fight on to save his job, the Swiss football administrator has abandoned his proposal to sell £3.1billion worth of shares in FIFA tournaments to private investors.
Infantino said: ‘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.
‘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.
Gianni Infantino waves goodbye to his unilateral plans for private investment in FIFA
‘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.
‘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, and particularly in those countries that mostly need our support.’
On Friday, the AFC became the third association to reject Infantino’s plans to raise private capital for the commercial and operational aspects of FIFA tournaments after CONCACAF had done so on Thursday. At the same time, UEFA announced a boycott of FIFA competitions.
Infantino had hoped to create a new enterprise with significant investment from Joshua Kushner – brother of Jared, Donald Trump’s son-in-law. Investment bank
But those plans are now dead in the water, with Infantino releasing a statement in the early hours of Saturday morning.
