FIFA’s Infantino scraps controversial World Cup private investment plan
FIFA President Gianni Infantino has scrapped a proposal to sell a stake in the World Cup to private investors, following widespread backlash from football’s regional governing bodies and the resignation of a senior adviser.
The plan, first announced earlier in the week, would have created a new FIFA subsidiary valued at $20bn and offered up to a 20% stake to external investors, raising up to $4.2bn. Infantino described it as a “proposal” and “not an obligation,” but the idea drew immediate and strong criticism, as reported by Al Jazeera.
By Friday evening, Infantino issued a statement saying the project would not proceed. “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 said, according to Al Jazeera and the BBC. The BBC’s Shaimaa Khalil reported that Infantino backed down after the project “created divisions.”
Coverage comparison
Multiple news organisations covered the story from different angles. Al Jazeera reported that the proposal drew a furious response from football authorities, including European governing body UEFA, which voted to boycott FIFA, accusing it of putting the sport’s “soul” up for sale. Al Jazeera also noted that regional confederations said they were blindsided by the plan.
France 24 reported that the proposal caused a stir internally and led to resignations in protest. The Guardian focused on British Prime Minister Andy Burnham’s call for Infantino to resign, calling the plan “outrageous.”
Dawn and Al Jazeera both reported that Claudius Schaefer, head of European professional football leagues, said Infantino’s position “looks untenable” and that there could be “only one consequence” for his actions.
Key claims
- FIFA President Gianni Infantino backed down on his investment proposal – This is widely reported across multiple sources, including the BBC, Al Jazeera, France 24, and The Guardian.
- The proposal involved selling a stake in the World Cup to private investors – Multiple outlets confirm the plan to create a $20bn subsidiary and sell up to a 20% stake to raise $4.2bn.
- The plan was met with fierce resistance from regional associations, including UEFA and CONCACAF – Al Jazeera and other outlets report that UEFA voted to boycott and CONCACAF said they lost confidence in Infantino’s leadership.
- Infantino’s senior adviser resigned over the plan – Al Jazeera and The Guardian report that Carlos Cordeiro resigned with immediate effect, calling it “a bad deal for football.”
- The project created divisions that are no longer in the interest of its original objective – Infantino’s own statement, quoted by the BBC and Al Jazeera, used this language.
- Gianni Infantino’s position as FIFA president looks untenable – Claudius Schaefer of European Leagues told SonntagsZeitung that there could be “only one consequence,” as reported by Al Jazeera and Dawn.
- Wales is the first football federation to formally withdraw support for Infantino’s re-election bid – Al Jazeera reports that the Football Association of Wales said Infantino has lost its confidence following “failures in good governance, processes, leadership, values, stakeholder management, communications and sound judgement.”