FIFA President Gianni Infantino have come under widespread criticism from the global football community over proposed plans to sell a stake in the FIFA World Cup, sparking debate about the tournament’s future.
FIFA has abandoned plans to sell a stake in its commercial business to external investors after facing strong opposition from several member associations.
FIFA plans to raise up to $4.2 billion by selling a 20% stake in a new unit managing major events like the World Cup, valuing the division at $20 billion.
UEFA criticized the proposal, calling it “irresponsible and indefensible” that such a major football decision was developed secretly.
The Switzerland-based organisation’s statement also accused FIFA President of putting the sport’s “soul” up for sale.
FIFA President Gianni Infantino stated that after reviewing all opinions, the project had created divisions that no longer supported its original objectives, leading to the decision to reconsider its direction.
