FIFA President Withdraws Controversial World Cup Profit Plan

Gianni Infantino, President of FIFA, has decided to abandon his contentious plan to involve private equity in World Cup profits following significant opposition from various soccer bodies globally.

Opposition from Soccer Entities

Infantino faced resistance after his advisor, who was active on a White House panel, resigned. Asia’s soccer body joined forces with Europe and North America to oppose the plan. Infantino stated that divisions caused by the proposal were against the initial objective.

“Having listened carefully to all the views, it has become clear that the project has created divisions… As a result, this proposal will not proceed.”

The proposal involved creating a $20 billion entity to manage World Cup operations with private investment, including from the Kushner family. UEFA’s members had agreed to boycott FIFA competitions, and similar sentiments were shared by CONCACAF and the Asian Football Confederation.

“Some things are simply too important to sell,” UEFA declared. “The FIFA World Cup belongs to football. It always will.”

Adviser Resignation and FIFA Reaction

Senior adviser Carlos Cordeiro resigned, urging others to speak against the idea. He expressed his unwillingness to support selling a share in the World Cup.

Kevin Lamour, FIFA’s chief operating officer, shared that FIFA staff was misled by Infantino’s secrecy, acknowledging the project should not proceed.

“It is the project of one person,” Lamour wrote, encouraging leaders to reconsider.

Infantino’s Proposed Plan

The plan proposed spun-off FIFA’s commercial ventures, including World Cups, into a subsidiary partially owned by private investors. The proposed key investor is a New York-based firm tied to Joshua Kushner.

The upcoming Women’s Under-20 World Cup might be impacted, with UEFA members planning a boycott.

Potential Consequences for Infantino

Infantino’s failure to gain support for the proposal could affect his role, despite being re-elected unopposed in previous terms. Concerns persist regarding his leadership approach.

He remains eligible for another term, with the presidential contest deadline approaching before the vote at FIFA’s African headquarters in Morocco.

The situation might change Infantino’s job security, given past unsuccessful attempts at implementing unpopular ideas.