FIFA president Gianni Infantino has dropped his contentious plan to sell a stake in future World Cup profits to private equity investors following intense criticism from football's governing bodies. Despite this reversal, UEFA has declared a loss of confidence in Infantino, a stance supported by the Football Association.
The proposal, which aimed to raise up to $4.2 billion through the sale of minority stakes in FIFA Forward Enterprise, was met with widespread disapproval from UEFA, CONCACAF, and the Asian Football Confederation, among others. In response to the backlash, Infantino announced that the project would not proceed, citing the creation of divisions that were no longer in the interest of the objective. UEFA has welcomed FIFA's decision to abandon the plan, emphasizing the need for transparency and proper consultation in decision-making processes. The Football Association has also expressed its support for UEFA's position, calling for a thorough review of FIFA's leadership and governance to ensure the global game is run transparently and for the benefit of all member nations.