FIFA President Gianni Infantino has confirmed that the Fédération Internationale de Football Association (FIFA) has abandoned its initial proposal to sell a 20% stake in FIFA and the FIFA World Cup to investors to generate funds for the development of football worldwide.
The announcement was made on Infantino’s Instagram page, where he confirmed the decision following widespread opposition from football confederations and member associations.
In his statement, Infantino said the FIFA Forward Enterprise project was designed to strengthen FIFA Member Associations and would only proceed with the backing of a majority of the associations.
“The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed. And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.”
He added that FIFA decided to withdraw the proposal after consultations made it clear the project had become divisive and was no longer serving its original purpose.
“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place. Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
Infantino also said FIFA’s next priority is to bring all stakeholders back together and continue supporting the growth of football, particularly in countries that need greater assistance.
“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support.”
Earlier, The Intercept reported that UEFA (Union of European Football Associations), AFC (Asian Football Confederation) and CONCACAF (Confederation of North, Central America and Caribbean Association Football) had rejected the proposal, with several of their member associations strongly opposing the plan.
By the time FIFA officially withdrew the proposal, CAF (Confederation of African Football), CONMEBOL (South American Football Confederation) and OFC (Oceania Football Confederation) had not issued official positions. However, CAF had confirmed receiving FIFA’s correspondence and said it would assess the proposal with its member associations before reaching a decision.
