FIFA Abandons Plan to Sell Stake in Business Unit After Member Resistance
The International Federation of Association Football (FIFA) has decided not to proceed with its proposal to sell a stake in a new business unit that would manage major events like the World Cup. The plan, which aimed to raise up to $4.2 billion by offering about 20% ownership valued at $20 billion, faced strong opposition from member associations and UEFA. FIFA President Gianni Infantino acknowledged divisions caused by the proposal and stated it was no longer in the organization's interest. Senior adviser Carlos Cordeiro resigned, calling the plan a 'bad deal for football,' while FIFA’s COO Kevin Lamour accused Infantino of misleading staff. British Prime Minister Andy Burnham also criticized Infantino as an unsuitable leader. The decision highlights tensions over commercialization within global sports governance and may impact future financial strategies at FIFA.
Topics: executive resignation FIFA private equity investment plan UEFA opposition