FIFA Abandons Plan to Sell Private Equity Stake in World Cup Tournaments

FIFA has decided to withdraw its proposed plan to sell private equity in its World Cup tournaments following strong opposition from football fans and national football associations around the world.

FIFA President Gianni Infantino confirmed the decision in a statement, saying the organization would not proceed with the controversial investment plan.

FIFA had recently announced plans to establish a new subsidiary valued at $20 billion to manage the World Cup and other major international tournaments. The proposal included selling a 20% stake in the new entity to external investors.

However, the plan faced significant resistance, particularly from European football authorities. The Union of European Football Associations (UEFA) warned that it could boycott the upcoming World Cup if FIFA moved forward with the private equity arrangement.

UEFA, regarded as the most influential confederation in world football, said its 55 member associations had unanimously opposed the proposal and agreed to boycott FIFA competitions if the investment plan was implemented.

Following the widespread opposition, FIFA has now decided to abandon the proposed private investment strategy.