FIFA President Gianni Infantino has abandoned his controversial plan to sell a stake in World Cup profits to private equity investors following widespread opposition from the global soccer community. The decision came after the governing bodies of European, North American, and Asian football all voiced strong objections to the proposal.

Infantino’s plan involved creating a $20 billion company to manage the World Cup alongside other FIFA tournaments, with up to 20% ownership allocated to private investors. The initiative included an “anchor investor,” a New York-based firm founded by Joshua Kushner, brother of Jared Kushner, who is related by marriage to former U.S. President Donald Trump. FIFA described the project as a means to unlock new financial resources for the sport.

However, the proposal quickly attracted criticism. UEFA, representing 55 European nations, declared its intent to boycott the upcoming FIFA competitions, asserting that “some things are simply too important to sell” and emphasizing that the World Cup "belongs to football." Similarly, CONCACAF, the governing body for North and Central America and the Caribbean, and the Asian Football Confederation expressed their opposition.

The controversy deepened when Carlos Cordeiro, Infantino’s senior adviser and a former Goldman Sachs banker who also sat on the White House’s World Cup task force, resigned in protest. Cordeiro condemned the plan, stating he could not support the potential sale of a stake in the World Cup. Hours later, Kevin Lamour, FIFA’s chief operating officer and a longtime colleague of Infantino, criticized the project as one driven by a single individual and called for greater transparency and leadership within football’s governing authorities.

In a statement, Infantino acknowledged the divisions the proposal had caused, saying, “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.” He added, “Our purpose has always been — and will always be — to unite and improve. As a result, this proposal will not proceed.”

The decision to halt the plan has come ahead of FIFA’s upcoming Women’s Under-20 World Cup, scheduled to start on September 5 in Poland, which is also facing uncertainty given UEFA’s boycott threat.

This episode highlights ongoing tensions about the commercialization of global football events and the balance between preserving the sport's heritage and pursuing financial growth.