Infantino not proceeding with divisive plan to sell World Cup profits to private equity
AP News • • sports
Key Points:
- FIFA President Gianni Infantino has abandoned his controversial plan to sell World Cup profits to private equity investors after widespread opposition from global soccer bodies and internal FIFA staff.
- The proposal involved creating a $20 billion company to manage the World Cup, with private investors including the Kushner family's New York-based firm holding a 20% stake, sparking backlash over concerns about commercialization and loss of football ownership.
- UEFA, CONCACAF, and the Asian Football Confederation all opposed the plan, with UEFA threatening to boycott the World Cup and other FIFA competitions in protest.
- Infantino’s senior adviser Carlos Cordeiro resigned in protest, urging other FIFA officials to speak out, while FIFA’s chief operating officer Kevin Lamour criticized the lack of transparency and called for the project to be halted.
- Infantino stated that the project caused divisions contrary to FIFA’s mission to unite and improve football, confirming that the plan will not proceed.
