FIFA President Gianni Infantino announced Friday that the organization has scrapped its plan to sell a stake in the World Cup to private investors [1, 2].
The decision ends a contentious proposal that threatened the traditional governance of the sport and risked a boycott from European nations [1, 4].
The proposed sell-off was valued at US$4.2 billion [3]. FIFA had considered selling stakes in the World Cup or its major competitions to private equity firms to generate immediate capital [1, 5]. However, the move triggered fierce global opposition from football associations and governing bodies.
Infantino issued a public apology for the proposal. "I apologise for the proposal to sell stakes in the World Cup to private investors," Infantino said [2].
The president said that the organization reversed its position after reviewing the widespread criticism. "Having listened carefully to all the views, we have decided to scrap the plan," Infantino said [1].
Other figures in the sport welcomed the reversal. Arsène Wenger described the decision as a necessary move for the integrity of the game. "Scrapping Infantino's World Cup plan was absolutely necessary and beyond question," Wenger said [2].
The reversal comes after several European nations reportedly threatened to boycott the tournament if the privatization plan proceeded [1, 4]. The threat of a boycott from the sport's most commercially powerful region created a critical risk for the organization's stability.
“"Having listened carefully to all the views, we have decided to scrap the plan."”
This u-turn demonstrates the limited power FIFA has when facing a unified front from European football nations. While FIFA sought a US$4.2 billion infusion of private capital, the threat of a boycott proved that the commercial value of the World Cup is still dependent on the participation of the world's most elite teams and their respective national federations.
