FIFA is not new to controversy. In the last decade, the international soccer association has faced bribery allegations , corruption scandals , and backlash over questionable host nation decisions . But even by FIFA’s standards, the association’s latest proposal might be pushing it too far—and member…
Editor’s note, July 31, 8:15 pm ET: FIFA announced it was scrapping the plan to sell a stake in the World Cup. The 2026 FIFA World Cup wasn’t perfect, but it was still pretty great. Legions of fans got to experience the US (and Canada, and Mexico), and Americans embraced visiting teams in turn.
By Jacob Lev, Patrick Sung Cuadrado, CNN (CNN) — FIFA’s proposed plan to sell private stakes in upcoming World Cup tournaments that sparked backlash from fans and soccer associations around the world has been scrapped, FIFA president Gianni Infantino said in a statement Friday.
FIFA has scrapped plans to cash in on the popularity of the World Cup by selling a share of it to private equity as part of what it said earlier this week was a broader investment strategy, the federation said late Friday.
FIFA on Friday said it would not move forward with a plan to create a $20 billion commercial arm of soccer’s world governing body by selling stakes in the World Cup and other events to private investors.
FIFA is shelving a controversial plan that would have allowed for billions of dollars in private commercial investment in the World Cup after the proposal was met with fierce opposition from its member nations.
FIFA president Gianni Infantino said on Saturday he has scrapped a plan to allow private investment in the World Cup following fierce backlash from football officials worldwide. "Our purpose has always been -- and will always be -- to unite and improve," Infantino said in a statement.
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