Infantino abandons FIFA plan to sell World Cup shares to private investors
FIFA president Gianni Infantino has told Sky News the organisation is scrapping its plan to sell shares in the World Cup to private investors, a climbdown following global backlash that has endangered his presidency.
Gianni Infantino has announced to Sky News that FIFA is abandoning its proposal to sell shares in the World Cup to private investors. The decision represents a retreat from the plan to hand part of the competition's commercial rights to private capital.
The announcement comes after widespread international backlash against the proposal. Infantino said the plan had "created divisions". The wave of criticism has threatened his position as FIFA president.
Infantino highlighted that the plan had "created divisions" and that this was a key reason behind FIFA's decision to withdraw. The governing body is responding to global pressure and stepping back from the proposal in an effort to ease tensions.
This is a formal reversal of the controversial sell-off scheme that drew significant opposition. The FIFA president's statement to Sky News confirms that the organisation is changing course and will not proceed with the share sale. The move constitutes a climbdown in the face of international criticism.
