Infantino abandons FIFA World Cup stake sale plan after backlash

FIFA president, Gianni Infantino, has abandoned plans to sell a stake in the FIFA World Cup after the proposal failed to gain the backing of key football bodies.

The plan, which sought to raise about $4.1 billion by selling shares to private investors, reportedly faced strong opposition from UEFA, CONCACAF, the Asian Football Confederation (AFC), as well as two senior FIFA officials.

Following the lack of support, Infantino has now shelved the proposal, bringing an end to the controversial plan to attract private investment into football’s biggest tournament.

“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,” Infantino’s statement read in part.

“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”

He added that, “the objective to continue growing football everywhere, and particularly in those countries that mostly need our support.”

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