"Trying to Sell Football?"... FIFA Scraps Stake Sale Plan

Infantino Says "Project Caused Division" and Announces Full Withdrawal

Whistleblowing and Senior Advisor Resignation Deal Blow to President's Leadership

The Fédération Internationale de Football Association (FIFA) has ultimately scrapped its plan to establish a subsidiary to oversee major tournaments such as the World Cup and then sell a stake in it to private investors. The initiative collapsed following strong opposition from the global football community, public criticism from within FIFA, and, eventually, the withdrawal of key investors.

U.S. daily the New York Post and other outlets reported that FIFA President Gianni Infantino released a statement on July 31 (local time), saying, “Having listened carefully to all opinions, it has become clear that this project has caused enough division to undermine the original objectives.” He added, “FIFA's purpose is to unite and advance world football, so we will not pursue this proposal.”

Gianni Infantino, President of the International Federation of Association Football (FIFA). Yonhap News Agency

Plan for 'World Cup Subsidiary' Sought to Raise 6 Trillion Won in Investment

The controversial project involved FIFA creating a commercial subsidiary called “FIFA Forward Enterprises (FFE),” which would be responsible for organizing major tournaments such as the World Cup and Club World Cup, as well as managing broadcast rights, sponsorship sales, ticketing, and hospitality businesses. The plan aimed to sell a portion of the company's shares to private investors.

FIFA valued the new subsidiary at about $20 billion, and planned to secure up to $4.2 billion (approximately 6 trillion won) by selling around 20% of its shares. The key investor was venture capital firm Thrive Capital, led by Joshua Kushner, brother of Jared Kushner, the son-in-law of U.S. President Donald Trump, while JP Morgan was set to serve as transaction advisor.

However, as news of the plan broke, it drew fierce criticism from the football world, which argued that it amounted to handing over the history and public value of the World Cup to private capital.

UEFA Announces Boycott and Whistleblowing Forces Retreat

The Union of European Football Associations (UEFA) responded by declaring it would boycott FIFA tournaments if the plan was not withdrawn. The Confederation of North, Central America and Caribbean Association Football (CONCACAF) and the Asian Football Confederation (AFC) also issued statements opposing the project. Since European countries are central to the success of the World Cup and Club World Cup, particularly in terms of broadcast rights, UEFA's boycott declaration effectively eliminated momentum for the initiative.

U.S. President Donald Trump (right) and President Infantino. Photo by Yonhap News

The key investors also stepped back. According to the New York Post, citing several sources, both Thrive Capital and JP Morgan concluded that taking part in the deal would be highly damaging to their corporate reputations and thus decided to withdraw.

There was also sharp criticism from within FIFA. Kevin Lamour, FIFA's Chief Operating Officer (COO), told the Associated Press, “This project does not belong to FIFA, but is rather President Infantino’s personal project,” criticizing the opaque decision-making process that had continued for months. He added, “A president should unite people and inspire them, but right now we are experiencing the exact opposite. Even if it costs me my job, I have a duty to uphold values and support my colleagues.”

Carlos Cordeiro, who had been Infantino’s senior advisor, expressed both his opposition to the project and his resignation. He said, “This proposal is clearly a bad deal and puts football’s future at risk. There are fundamental questions about why this deal is needed now and for whom, and none of these questions have been answered.”

Ultimately, President Infantino announced the withdrawal of the project in an effort to contain the situation. It is expected that this episode will significantly impact his leadership and could affect the outcome of the FIFA presidential election scheduled for March next year.

This content was produced with the assistance of AI translation services.