Less than a week after unveiling a controversial proposal to sell a 20% stake in future World Cup profits to private investors, FIFA President Gianni Infantino has officially scrapped the plan.
The proposal envisioned separating FIFA’s commercial assets, including revenues from the World Cup, broadcasting rights, and hospitality, into a standalone subsidiary, distinct from the organization’s nonprofit operations.
The new entity was valued at $20 billion, with plans to sell a 20% stake for $4.2 billion to a private equity consortium led by Joshua Kushner, brother of President Trump’s son-in-law, Jared Kushner.
However, the initiative triggered severe backlash, culminating in the resignation of Infantino’s senior adviser, Carlos Cordeiro.
The resistance peaked when UEFA, European soccer’s governing body, warned it would boycott all FIFA competitions unless the proposal were called off. They stated that “the World Cup is not for sale.”
Despite mounting criticism, Infantino struck a defiant tone. On Friday morning, FIFA released a statement declaring that “nobody is selling” and accusing the media of misrepresenting the proposal.
Momentum against the proposal grew after the Asian Football Confederation (AFC) aligned with the Confederation of North, Central America and Caribbean Association Football (CONCACAF) in condemning the plan.
They questioned the need for private equity funding after the most profitable World Cup in history.
By Friday evening, Infantino conceded defeat, announcing that FIFA would not move forward with the proposal, pledging to bring all parties back together to rebuild unity across the sport. “Our purpose has always been—and will always be—to unite and improve. As a result, this proposal will not proceed,” he said.