FIFA drops plan to sell World Cup rights to private investors
FIFA has abandoned its plan to sell part of the rights to the World Cup and other tournaments to private investors, following sharp criticism and threats of a boycott from UEFA. The decision was announced on Saturday by FIFA president Gianni Infantino.
FIFA president Gianni Infantino announced on Saturday that the organization would no longer pursue plans to sell stakes in the World Cup and other competitions to private investors. This reversal comes amid strong criticism and the threat of a boycott from the Union of European Football Associations (UEFA) and its member associations.
Infantino said that after listening carefully to all points of view, FIFA understood that the project had created divisions that, regardless of the level of support, no longer served the original goal. He reiterated that FIFA's aim has always been to unite and develop football, so work on the proposal would not continue. He also suggested that a meeting with all interested parties would be held soon, based on a shared interest in the sport and a desire to grow football globally.
Earlier reports indicated that Infantino had intended to sell shares in the World Cup and other tournaments to private investors, including, according to media, relatives of Donald Trump's son-in-law Jared Kushner. Infantino reportedly argued that the move would bring football associations four times more revenue, and gave national associations a September 19 deadline to accept the plan.
On July 30, all 55 UEFA associations decided to boycott all FIFA tournaments if the plan went ahead. UEFA stated that no one has the moral right to sell what is merely held in trust for future generations. The European criticism was later joined by CONCACAF, the confederation for North and Central America and the Caribbean, which includes 41 football federations.
