FIFA Scraps Controversial World Cup Plan: Infantino Abandons $20 Billion Investment Proposal
After facing intense pushback from worldwide soccer governing bodies and fans, FIFA’s president Gianni Infantino has scrapped his plan to sell equity in the World Cup. The proposal aimed at a $20 billion spinoff company, backed by a New York investment firm led by Joshua Kushner.
In a statement, Infantino confirmed that “the project will not proceed” despite initial support from entities such as UEFA and its member federations, who called the plan an attempt to treat the World Cup as just another investment product. The decision comes after widespread opposition and concerns over how the proposed deal would impact soccer’s long-term future.
In response to mounting resistance, Infantino stated, “Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that are no longer in the interest of the objective set out in the first place.”
Backlash and Reactions
The opposition wasn't limited to soccer’s ruling bodies. Senior advisor Carlos Cordeiro resigned, voicing his disagreement with the controversial plan. Kevin Lamour, FIFA's chief operating officer, also spoke out against it, citing misleading information provided to staff.
Frequently Asked Questions
Will this decision impact future World Cups?
The immediate future of the World Cup remains unchanged for now, with Infantino facing calls from some federations for his ouster. The impact on long-term funding and organization will be assessed going forward.
How did public opinion play a role in this decision?
Fans and governing bodies around the world expressed concerns about how the plan would affect soccer integrity, contributing to its ultimate cancellation.