Gianni Infantino backtracks: FIFA scraps World Cup sale after UEFA-led global backlash

Gianni Infantino has finally backtracked. The FIFA president announced on Friday that he is completely scrapping his plan to sell a minority stake in the FIFA World Cup and the Club World Cup to a privately held subsidiary, following a chaotic week for him marked by widespread rejection from the world's major soccer confederations and an unprecedented internal rift within the organization itself.

"Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place," Infantino said in an official statement released by FIFA.

The plan, dubbed FIFA Forward Enterprise (FFE), sought to raise up to $4.2 billion through the sale of a minority stake valued at $20 billion, with Thrive Eternal, the investment vehicle of Joshua Kushner, brother of Jared Kushner, as the leading candidate to head the investor group. The proposal, which JPMorgan advised, promised to triple development funds for the 211 member associations, but ultimately sparked the worst governance crisis Infantino has faced since taking office in 2016.

"Our purpose has always been - and will always be - to unite and improve. As a result, this proposal will not proceed," the FIFA president declared, sealing the project's fate, at least for now.

Tough questions

UEFA was the first to oppose the proposal, with its 55 member associations announcing they would no longer participate in FIFA-organized competitions as long as the plan remained in effect. CONCACAF and the Asian Football Confederation joined the opposition in the hours that followed, leaving Infantino with no room to maneuver in the face of a bloc that brings together the vast majority of the world's most profitable national teams and clubs.

The final blow came from within Kushner's own circle. As reported by the New York Post, Thrive Capital had begun exploring ways to withdraw from the project in light of the public relations crisis it had caused, while sources close to JPMorgan also did not expect the deal to materialize.

Infantino concluded his statement with the intention of regaining lost ground: "Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support."

Infantino's statement comes after his right-hand man, Carlos Cordeiro, senior advisor to the FIFA president, submitted his resignation on Friday, citing his "categorical" opposition to the project.

The cancellation comes in the midst of a decisive year for the FIFA president, who will face a presidential election in March 2027 in Rabat, where candidates are already emerging from the very turmoil this episode has generated.