FIFA president Gianni Infantino has abandoned his controversial plan to sell a stake in future World Cup profits to private equity investors after fierce opposition from football’s governing bodies.
FIFA had announced on Tuesday that it was seeking to launch FIFA Forward Enterprise (FFE), which would bring together the sale of FIFA’s commercial rights – including broadcasting, sponsorship, ticketing and licensing – with the operational delivery of its tournaments.
Infantino had then given football associations until September 19 to back his proposals to sell off part of FIFA to private investors with a £30.1m incentive to accept.
But the controversial proposals received fierce criticism from UEFA, CONCACAF and the Asian Football Confederation (AFC), with Prime Minister Andy Burnham adding his condemnation by calling for “FIFA to undertake an urgent review of its governance”.
Infantino had then given football associations until September 19 to back his proposals
A statement from Infantino in the early hours of Saturday read: “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.
“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, particularly in those countries that mostly need our support.”
More to follow…
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