FIFA President Gianni Infantino has decided to withdraw his controversial plan to sell profits from the World Cup to private equity after facing significant backlash from various entities within the soccer community. This move marks a pivotal shift following the strong objections from associations across Europe, North America, and Asia.
The decision to abandon the initiative comes in the wake of Infantino's senior adviser Carlos Cordeiro resigning from his role, highlighting the internal dissent regarding the proposal. Cordeiro, who previously served as a representative for FIFA on a White House panel, expressed his concerns about the project and urged other senior FIFA officials to voice their opinions against the sale.
Infantino’s proposal involved establishing a $20 billion subsidiary to oversee the World Cup, with significant investments from private investors, including the business interests of the Kushner family, linked to Jared Kushner, son-in-law of former U.S. President Donald Trump. However, the backlash intensified following its announcement, with UEFA's 55 member nations agreeing to boycott not only the World Cup but also all other FIFA competitions. They firmly articulated that “some things are simply too important to sell,” emphasizing that the FIFA World Cup belongs to football and will never be for sale.
In a statement made on Friday, Infantino acknowledged the divisions created by the project, stating, “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.” He concluded that the proposal would not proceed, reiterating FIFA's commitment to unity and improvement.
Following the backlash, the FIFA chief operating officer Kevin Lamour publicly criticized Infantino, stating that FIFA staff were misled due to a lack of transparency regarding the planning of the sale. Lamour underscored that the initiative was “the project of one person” and called for a reassessment of the direction FIFA leadership should take moving forward.
Infantino aimed to create a commercial entity managing FIFA’s events, including the World Cups and Club World Cups for both men and women. The proposal, however, significantly alienated various stakeholders in the soccer world, who viewed the potential sale as undermining the integrity of the sport.
As a consequence of the failed plan, Infantino's position could be at risk, especially after interventions from key figures such as Lamour and Cordeiro. While he was re-elected unopposed in 2019 and 2023, the upcoming presidential contest deadline on November 18 could raise questions about his future, particularly in light of the discontent surrounding his leadership style and previous controversial initiatives.
The immediate fallout from this incident includes the impending Women’s Under-20 World Cup, set to begin on September 5 in Poland, which UEFA member nations have stated they will boycott. Infantino's leadership and vision for FIFA are now under greater scrutiny, with the failed private equity proposal serving as a significant misstep in his tenure.
