European soccer body UEFA warns FIFA of legal action over Infantino’s failed World Cup sell-off plan

FIFA President Gianni Infantino has abandoned his plan to sell stakes in future World Cup profits to private investors, including Joshua Kushner's Thrive Eternal. The proposal, which aimed to raise $4.2 billion by valuing a new subsidiary, FIFA Forward Enterprise (FFE), at $20 billion, faced widespread backlash. Major opponents included UEFA, other continental football bodies, and numerous national leagues and fans. Infantino cited the divisions created by the plan as the reason for its withdrawal, stating it was no longer in the project's original interest. The plan had promised FIFA member federations $20 million each, a significant increase from current distributions. The decision comes after Infantino's senior advisor resigned and UEFA threatened boycotts of FIFA events.

UEFA has declared a loss of confidence in FIFA President Gianni Infantino following the abandonment of his plan to sell stakes in the World Cup to private equity investors. The proposal, which aimed to create a $20 billion company, was scrapped after facing widespread opposition from Europe, North America, and Asia, and the resignation of Infantino's senior adviser. UEFA stated that "no option should be off the table" and will conduct a full review, emphasizing that the current FIFA leadership has lost the confidence of many within the football community. The plan reportedly involved a New York-based investment firm linked to the Kushner family.

The Asian Football Confederation (AFC) has welcomed FIFA's decision to abandon plans to sell a stake in the World Cup. FIFA President Gianni Infantino scrapped the proposal, which aimed to raise up to $4.2 billion by selling a 20% stake in a new unit managing FIFA events, after facing significant opposition. The AFC, along with other regional confederations, expressed that they were blindsided by the announcement and stressed the importance of transparent consultation for future initiatives. AFC President Sheikh Salman bin Ebrahim Al Khalifa stated that the future of global football should be shaped through collective dialogue and respect for governance structures.

FIFA has scrapped its controversial plan to sell a 20% stake in a new unit managing its events, including the World Cup, for up to $4.2 billion. The proposal faced widespread backlash from member associations, including European governing body UEFA, which threatened to boycott FIFA competitions. FIFA President Gianni Infantino stated the project created divisions and was no longer in the organization's best interest. The plan, announced on Tuesday, was criticized by senior advisor Carlos Cordeiro as a "bad deal for football" and by UEFA as "irresponsible and indefensible." The decision comes amid scrutiny of Infantino's leadership and FIFA's governance processes.

FIFA President Gianni Infantino has abandoned his plan to sell World Cup profits to private equity firms following widespread opposition. The proposal, which aimed to create a $20 billion company involving private investors, faced significant backlash from football organizations worldwide. UEFA, representing 55 member nations, threatened to boycott FIFA competitions, while CONCACAF and the Asian Football Confederation also voiced their opposition. Infantino stated the project had created divisions contrary to FIFA's objective of unity. The decision came after Infantino's senior advisor resigned, urging others to speak out against the plan.

FIFA President Gianni Infantino has abandoned plans to sell stakes in the World Cup. The BBC's Shaimaa Khalil reported on the reasons behind this decision. While the article does not specify when this change of heart occurred, it indicates that Infantino has reversed his controversial investment proposal. The core reason for backing down, as explained by Khalil, is the controversy surrounding the initial idea. The article does not provide further details on the specific nature of the controversy or the proposed stakes.

UEFA has threatened FIFA with legal action over President Gianni Infantino's recently withdrawn plan to sell a stake in future World Cup profits to private investors. The European soccer body informed FIFA that it is "actively considering legal action, arbitration, and/or regulatory complaints" related to the proposed "FIFA Forward Enterprise" (FFE) plan. UEFA also formally notified FIFA that any destruction of relevant evidence would be considered spoliation. The FFE proposal, which aimed to raise $4.2 billion, was dropped after facing global backlash, with UEFA leading the opposition. UEFA has also signaled a desire to end Infantino's presidency, stating he has lost the confidence of world soccer.

Asia's soccer body, the Asian Football Confederation (AFC), has joined opposition to FIFA President Gianni Infantino's plan to sell stakes in World Cup commercial ventures to private investors. The AFC stated it stands in solidarity with UEFA and CONCACAF, which have also voiced strong objections. The proposed $20 billion subsidiary, backed by investor Joshua Kushner, is seen by the AFC as unable to achieve necessary consensus. The AFC called for an urgent review of FIFA's governance and decision-making processes, highlighting fundamental weaknesses exposed by the secretive proposal. FIFA, however, blamed media reports for disrupting its consultation process and intends to proceed.

FIFA has proposed creating a new subsidiary, FIFA Forward Enterprise, to manage the World Cup and other events, with plans to sell minority stakes of up to 20 percent to private investors. This move aims to raise up to $4.2 billion, which FIFA states will be reinvested in global football development. The proposal, which still requires a vote from FIFA's 211 member nations, has drawn strong criticism from UEFA, who view it as crossing an unacceptable line for football governance. A potential investor group is expected to be led by a vehicle founded by Joshua Kushner.

Carlos Cordeiro, a senior adviser to FIFA President Gianni Infantino, has resigned in protest of FIFA's proposal to seek private investment in its World Cup and other events. Cordeiro stated the plan, which involves creating a $20 billion subsidiary with up to a 20% stake offered to external investors, is "a bad deal for football." He questioned why FIFA would sell a stake in its most valuable asset when it has substantial reserves and no debt. The proposal, reportedly bankrolled by Joshua Kushner, requires FIFA's 211 member associations to decide by September 19. Cordeiro, a former banker and ex-US Soccer Federation vice president, was appointed to help grow world football for FIFA.

FIFA President Gianni Infantino has clarified that the organization's plan to sell stakes in the World Cup is a proposal, not an obligation, following criticism from football governing bodies. FIFA announced intentions to create a $20 billion subsidiary to manage its events, including the World Cup, and potentially offer up to 20% stakes to external investors. Regional confederations expressed surprise and disapproval, feeling blindsided by the move to involve private investors. Infantino described the plan as part of a democratic consultation process and an opportunity, emphasizing that FIFA will continue to govern football without external interference and that its major tournaments will remain under its control.

UK Prime Minister Andy Burnham has called for FIFA President Gianni Infantino to resign over proposed plans to sell a stake in the World Cup. Burnham described the proposals as "outrageous" and stated that Infantino is the "wrong man to lead the organisation." This intervention makes Burnham the first leader of a major nation to demand Infantino's resignation. FIFA plans to create an investment vehicle holding World Cup commercial rights and sell a portion for $4.2 billion. The proposal has faced significant backlash from football bodies, including UEFA, and led to the resignation of a senior FIFA adviser, Carlos Cordeiro, who called it a "bad deal for football."

Opposition is growing to FIFA President Gianni Infantino's plan to sell a stake in World Cup revenue to private investors. The Asian Football Confederation president warned that the initiative could undermine continental competitions. European soccer body UEFA is meeting with its members to strategize resistance. The plan involves a New York investment vehicle linked to Jared Kushner and aims to create a $20 billion FIFA Forward Enterprise subsidiary with $4.2 billion in private equity. FIFA has offered member countries $20 million to invest, with a deadline of September 19. CONCACAF has also expressed concern over the lack of due process. Infantino maintains the plan is an "offer, not an obligation" and part of a consultation process.