FIFA has decided to abandon its controversial plan to sell stakes in the World Cup to private investors. The decision comes after significant backlash from the global soccer community, including a threat from the Union of European Football Associations (UEFA) to boycott all FIFA events, including the World Cup. FIFA President Gianni Infantino confirmed on Friday (July 31) that the deal, which involved a group led by Joshua Kushner, is now off the table.
The proposal aimed to raise $20 billion by selling a 20% stake in a new entity, FIFA Forward Enterprise, which would manage commercial and event operations. However, the plan faced intense criticism for lacking transparency and potentially compromising the integrity of the sport. UEFA, representing 55 of FIFA’s 211 member associations, called the proposal “irresponsible and indefensible,” emphasizing that football’s future should not be dictated by financial interests.
The proposed deal also drew scrutiny due to Infantino’s connections with President Donald Trump and his family. Joshua Kushner, the brother of Trump’s son-in-law Jared Kushner, was expected to lead the investment group. The backlash was not limited to Europe; other soccer bodies like Concacaf and the Asian Football Confederation also expressed concerns.
In a statement, Infantino acknowledged that the project had created divisions and was no longer in the best interest of FIFA’s objectives. UEFA’s decision to boycott FIFA competitions highlighted the potential for significant disruption in global soccer, as European teams are among the top-ranked in the world.
With the investment deal now abandoned, FIFA will need to explore alternative ways to fund its initiatives and maintain unity among its member associations.
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