07/31/26 07:18:00
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07/31 19:17 CDT Infantino abandons plans to sell World Cup profits to private
equity following massive pushback
Infantino abandons plans to sell World Cup profits to private equity following
massive pushback
ZURICH (AP) --- FIFA President Gianni Infantino is abandoning his divisive plan
to sell World Cup profits to private equity after receiving pushback from all
corners of the soccer world.
Infantino's decision came after his senior adviser who sat on a White House
panel resigned and Asia's soccer body joined Europe and North America in
opposing it.
"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 a statement on Friday. "Our purpose has always been
--- and will always be --- to unite and improve. As a result, this proposal
will not proceed."
Infantino had proposed creating a $20 billion company to run the World Cup with
private investors including the Kushner family, but drew backlash that grew
every day since Tuesday's announcement.
UEFA's 55-member nations agreed to boycott the World Cup and all other FIFA
competitions over Infantino's plan on Thursday. North America's CONCACAF and
the Asian Football Confederation also said they opposed the plan.
"Some things are simply too important to sell," UEFA said in a statement. "The
FIFA World Cup belongs to football. It always will. And so long as Europe has a
voice, it will never be for sale."
Infantino's senior adviser, Carlos Cordeiro, a former Goldman Sachs banker who
represented the soccer body on the White House Task Force for the World Cup,
resigned on Friday and urged other senior FIFA staff to speak out.
"I cannot stand by while FIFA considers selling a stake in the World Cup,"
Cordeiro said in a statement, just hours after FIFA insisted: "Nobody is
selling football."
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AP soccer: https://apnews.com/hub/soccer and AP World Cup coverage
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