FIFA President Gianni Infantino is abandoning his divisive plan to sell World Cup profits to private equity after receiving pushback from all corners of the soccer world.
Infantino’s decision came after his senior adviser who sat on a White House panel resigned and Asia’s soccer body joined Europe and North America in opposing it.
“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,” Infantino said in a statement on Friday. “Our purpose has always been — and will always be — to unite and improve. As a result, this proposal will not proceed.”
Infantino had proposed creating a $20 billion company to run the World Cup with private investors including the Kushner family, but drew backlash that grew every day since Tuesday’s announcement.
UEFA’s 55-member nations agreed to boycott the World Cup and all other FIFA competitions over Infantino’s plan on Thursday. North America’s CONCACAF and the Asian Football Confederation also said they opposed the plan.
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“Some things are simply too important to sell,” UEFA said in a statement. “The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.”
Infantino’s senior adviser, Carlos Cordeiro, a former Goldman Sachs banker who represented the soccer body on the White House Task Force for the World Cup, resigned on Friday and urged other senior FIFA staff to speak out.
“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro said in a statement, just hours after FIFA insisted: “Nobody is selling football.”
Hours later, FIFA chief operating officer Kevin Lamour issued a statement to The Associated Press, saying FIFA staff were deceived by Infantino’s lack of openness in planning the sale over recent months and that the project must not continue.
“It is the project of one person,” Lamour, a long-time colleague of Infantino at both FIFA and European soccer body UEFA, 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.”
Infantino has proposed spinning off FIFA’s commercial businesses — including World Cups and Club World Cups for men and women — into a $20 billion subsidiary with 20% owned by private investors.
The “anchor investor,” described by FIFA, is a New York-based investment firm created by Joshua Kushner, the younger brother of U.S. President Donald Trump’s son-in-law, Jared Kushner.
The next FIFA competition is the Women’s Under-20 World Cup starting Sept. 5 in Poland — which UEFA members said they would boycott.
Now get rid of the rot at the core
I’m with NZed on this. Haven’t watched a single game. Today’s sports is really not about a game anymore, but all about money, from the lowly player, to coach, to manager, and so on. FIFA is of no interest to me, no matter who runs it.
Kushner is just an alternate spelling for corruption.
Apparently cop killers deserve parole opportunities about every other year after conviction in Canada…
FIFA is so corrupt under Infantino. His ties to Trump says it all. It’s all about money for the two of them. He needs to concentrate on the big beautiful game and NOT how he can make more money. He needs to be replaced at the election next spring.
He and Trump have the same value, profit maximization.
To ‘Too bad’ Quote” If the deal went through, billions for FIFA and all fans”
NO, only FIFA will get richer, the fans and hosts will get to pay even higher prices.
“FIFA generates profits from the World Cup through broadcasting rights, marketing deals, and ticket sales, reaching an unprecedented $15 billion for the 2026 four-year cycle.”
Yet host countries are ‘Skrood’ when they provide all costs to hold these games. FIFA is an international scam artist!
I don’t watch soccer because it’s hard to take seriously a bunch of grown men chasing down a ball and faking injuries just to stand back up and run around some more. They could privatise it or make it free for all I care, I won’t be attending either way.
With so much of the anger being TDS for no reason.. If the deal went through, billions for FIFA and all fans. Great del rejected by hatred for greatest president ever!
And this is why we will not support attending ANY professional sport event. The multi million $$s payouts to someone who is capable of kicking , throwing, batting, passing, hoops, shooting, COACHING.. is not worth the absurd entry fee prices. Teachers who are able to motivate the youth are worth more.No not a teacher.
A man is known by the company he keeps…
FIFA should be disbanded and replaced with aa completely open association. Infantino really fucked up their whole system.
There are 36 other people on the board of FIFA why haven’t they come out and spoke about this mess instead of letting 1 man make all the decisions. FIFA needs to go down in flames because they only care about the money and not the sport anymore. It used to be an achievement to qualify for the World Cup but now they allow teams and referees that are not good enough to be there.
“Lack of Openness” is the name of my LPC cover band.
the a hole