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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.
World football governing body FIFA said Friday it was scrapping a plan to allow private investment in flagship events after fierce backlash from football officials worldwide.FIFA had floated the plan on Tuesday that it said could raise up to $4.2 billion based on a valuation of $20 billion for a new FIFA Forward Enterprise (FFE), the commercial subsidiary it proposed to run events such as the World Cup and Club World Cup.
FIFA and its President Gianni Infantino faced fierce backlash from across football to plans to sell stake in World Cup.
Football's world governing body abandons plans to sell off stakes in its major competitions after widespread opposition to president Gianni Infantino's idea.
Football's world governing body abandons plans to sell off stakes in its major competitions after widespread opposition to president Gianni Infantino's idea.
