HeadlinesBriefing favicon HeadlinesBriefing.com

Fifa Scraps Private Investment Plan After Backlash

BBC Sport Football •
×

Fifa has abandoned plans to sell stakes in its major competitions after widespread opposition led by European football's 55 member associations and Uefa, who threatened to boycott World Cups if the proposal proceeded.

Fifa's chief operating officer Kevin Lamour stated the governing body's administration had been "deceived" about the project. Carlos Cordeiro, Infantino's senior adviser on global strategy and governance, resigned, calling the proposal "a bad deal for football" that would "mortgage football's future". Concacaf rejected the plans, with sources indicating most regional associations have lost faith in Infantino, while the AFC expressed solidarity with Uefa and Concacaf.

UK Prime Minister Andy Burnham stated Infantino was "the wrong man" to lead Fifa. The 56-year-old president now faces immense pressure ahead of his re-election bid for a fourth term at the Fifa Congress in March.

The proposal aimed to create Fifa Forward Enterprise (FFE) as a commercial subsidiary, inviting third parties to make minority investments. A JP Morgan document outlined expansion plans targeting €24m per member association by 2035-2039. Thrive Eternal, an American venture capital firm founded by Joshua Kushner, was expected to lead the investor group. Infantino remains under scrutiny as candidates have until 18 November to challenge his re-election.