Infantino abandoned his World Cup equity plan after seismic FIFA backlash. Here's what to know
Summary
FIFA President Gianni Infantino announced he has dropped a plan to sell part of FIFA’s future World Cup profits to private investors after heavy criticism from many countries and soccer officials. The plan would have raised $4.2 billion but caused strong opposition, including threats of boycotts and claims that Infantino misled others. His support within FIFA is uncertain after this controversy.Key Facts
- Infantino wanted to create a new company to sell shares of FIFA’s future earnings from tournaments like the World Cup.
- The plan aimed to raise $4.2 billion by selling about 20% of this new entity to private investors.
- Joshua Kushner’s fund, Thrive Eternal, was the lead potential investor; Kushner is related to U.S. President Donald Trump.
- FIFA’s 211 member soccer federations were offered $20 million each to invest, with promises of increasing payments over time.
- Many key soccer organizations, including European federations, Asian and North American bodies, opposed the plan.
- FIFA executives and some vice presidents also criticized the move, leading to resignations.
- FIFA President Infantino abandoned the plan after facing threats of boycotts and widespread backlash.
- Infantino’s leadership now appears less secure, despite previous strong support from member federations.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
