Fifa scraps controversial World Cup investment plan
Summary
Fifa president Gianni Infantino has cancelled a plan to allow private investors to buy stakes in Fifa’s major tournaments, including the men’s and women’s World Cups. The decision came after strong opposition from football groups across Europe, North America, and Asia, who feared the plan could harm the sport’s future.Key Facts
- Gianni Infantino is Fifa’s president since 2016.
- The plan offered $40 million to each of Fifa’s 211 member associations if they supported private investment in tournaments.
- European football's 55 members (Uefa) threatened to boycott World Cups if the plan went forward.
- Concacaf (North, Central America, Caribbean) and the Asian Football Confederation also rejected the plan.
- Senior adviser Carlos Cordeiro resigned, calling the plan a bad deal for football.
- The plan required approval from at least 106 associations, but opposition totaled more than 130.
- Infantino said he will try to unite the associations again with a shared interest in football.
- The plan included creating a commercial subsidiary called Fifa Forward Enterprise (FFE) where outside investors could hold minority stakes.
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