FIFA has abandoned a proposal to bring private investment into a commercial company intended to oversee its major competitions, with president Gianni Infantino saying the plan had sparked divisions.
Key takeaways
- The FIFA Forward Enterprise proposal will not move forward.
- The planned company was intended to manage the World Cup, Club World Cup and other tournaments.
- FIFA had considered selling more than 20% of a business valued at $20 billion.
- The proposed transaction could have generated as much as $4.2 billion.
FIFA drops investment plan
Infantino announced the decision on Friday after FIFA introduced the FIFA Forward Enterprise (FFE) earlier in the week. The vehicle was designed to handle commercial operations connected to the World Cup, the Club World Cup and additional competitions.
Under the proposal, outside investors could have acquired a stake exceeding 20% in the new entity. FIFA valued the business at $20 billion, meaning the sale had the potential to raise up to $4.2 billion.
In a message posted on X, Infantino said the governing body had considered the various responses to the plan and concluded that it was producing divisions. He stated that the disagreement no longer served the original purpose of the initiative, regardless of how much backing it had received.
Infantino said FIFA’s central mission had always been to bring people together and advance the sport. He added that the FFE proposal would therefore not proceed.
FIFA maintains consultation pledge
In a separate statement issued earlier on Friday, FIFA said it was still committed to consulting all 211 of its member associations about the FIFA Forward Enterprise plan.
The organisation said the initiative had been intended to increase funding for football development while leaving FIFA with complete authority over governance, its competitions and all sporting decisions.
