statement<\/a><\/span> issued late Friday night, the embattled FIFA president said:<\/p>\n“After carefully listening to all views, it has become clear that this project, regardless of the level of support, causes divisions that are now contrary to the interests of the objective originally established. Our goal has always been, and will always be, to unite and improve. As a result, this proposal will not be implemented.”<\/p>\n
Infantino\u2019s proposal met with fierce resistance from UEFA, CONCACAF, and the Asian Football Confederation (AFC).<\/p>\n
UEFA indicated that all 55 of its members would boycott FIFA competitions, including the World Cup, if the plans remained on the table.<\/p>\n
In its statement, FIFA noted that “nobody is selling football,” and while asserting that it “acknowledges and respects the feedback and concerns expressed publicly,” emphasized that it would continue to implement suggestions.<\/p>\n
It added that it “reaffirms its commitment to an open and democratic process of consultation.”<\/p>\n
Shortly after FIFA issued its statement, the AFC released its own declaration of solidarity with UEFA and the Confederation of North, Central America and Caribbean Association Football (CONCACAF).<\/p>\n
Infantino subsequently suffered two major internal blows.<\/p>\n
First, his adviser Carlos Cordeiro resigned from his position, sharply criticizing the plan in a statement as “a bad deal for FIFA member associations, a bad deal for football, and a bad deal for the long-term future of the game.”<\/p>\n
Then, FIFA Chief Operating Officer Kevin Lamour told the Associated Press that staff felt “deceived” by Infantino and that after raising the issue, he would “sleep better, even at the cost of losing his job.”<\/p>\n
Lamour said:<\/p>\n
“This is the project of a single person. Leaving aside that this project should not proceed… it is now time for the political leaders of world football to ask themselves the right questions and make the right decisions.”<\/p>\n
These developments left Infantino cornered, and by Friday afternoon, numerous figures within the organization\u2014speaking to The Athletic on condition of anonymity to protect their jobs\u2014believed it was no longer a question of “if” the cord would be cut, but “when.”<\/p>\n
Joshua Kushner\u2019s venture capital firm Thrive had not withdrawn from the deal as of Friday night, but that became moot when FIFA management ultimately decided to kill the project via a public statement.<\/p>\n
Joshua Kushner is the brother of Jared Kushner, the son-in-law of Donald Trump.<\/p>\n
On Tuesday, world football’s governing body had announced its intention to establish FIFA Forward Enterprises (FFE), a new private entity to manage its flagship events, including the World Cup and the Club World Cup, with plans to sell a 21% minority stake in FFE to external investors.<\/p>\n
The sale was targeted to generate $4.2 billion (\u00a33.2 billion) in revenue. FIFA stated that this amount could be immediately distributed to its 211 member associations under a new funding stream named the “FIFA Fast-Forward Program” (FFFP).<\/p>\n
Under the plan, FIFA\u2019s total development funding would have exceeded $10 billion over the next four years.<\/p>\n
Despite mounting criticism in recent days, FIFA confirmed that if member associations opposed the FFE plan but the proposal was accepted, the dissenting federations would each receive $20 million (\u00a314.9 million) for the 2027\u201330 cycle, regardless of whether shares in FFE were sold to private investors (to be followed by $22 million for 2031\u201334 and $24 million for 2035\u201338).<\/p>\n
However, had a given member association accepted the FFE proposal, it would have received $40 million for the 2027\u201330 period, with subsequent payouts remaining the same.<\/p>\n
The three confederations that explicitly took a stand against FIFA\u2019s plan represent 137 of the 211 FIFA member associations.<\/p>\n
FIFA had stated that for the proposal to move forward, it required the approval of a majority of the 211 member associations as well as the 37-member FIFA Council, which consists of Infantino and eight FIFA vice presidents.<\/p>\n
Strategic reactions and leadership crisis<\/strong><\/p>\nSouth American football confederation CONMEBOL did not reject the plans in a statement on Friday, but noted that financial and commercial decisions “must always serve the interests of football and never take precedence over the essence of the game.”<\/p>\n
According to a report by The Athletic, Infantino’s future leadership of FIFA was called into question during UEFA and CONCACAF meetings held on Thursday.<\/p>\n
Infantino assumed the FIFA presidency in February 2016, succeeding Sepp Blatter, and was expected to run unopposed in the next election scheduled for March 2027.<\/p>\n
There is also talk among European officials of putting forward Nasser Al-Khelaifi, the Qatari CEO of beIN Media, to run against Infantino.<\/p>\n
Lise Klaveness, President of the Norwegian Football Federation, told VG: “My clear impression right now is that he has suffered a major loss of trust. We did not vote for him last time and were skeptical about this. There are many good aspects to FIFA, but if you take a lax approach to governance principles and rules, you lose trust quickly.”<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
FIFA and Gianni Infantino have backed down from plans to sell a stake in the organization’s commercial and event operations following widespread backlash. In a statement issued late Friday night, the embattled FIFA president said: “After carefully listening to all views, it has become clear that this project, regardless of the level of support, causes […]<\/p>\n","protected":false},"author":1,"featured_media":15976,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[175],"tags":[20892,1690,20895,20894,20891,20893,19291,20890,20904,20042,4359,20897,20896,20901,20900,20902,20899,20903,20898,20048,865],"class_list":["post-15975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diplomacy","tag-afc","tag-boycott","tag-carlos-cordeiro","tag-club-world-cup","tag-concacaf","tag-conmebol","tag-fifa","tag-fifa-forward-enterprises","tag-football-administration","tag-gianni-infantino","tag-governance","tag-joshua-kushner","tag-kevin-lamour","tag-lise-klaveness","tag-nasser-al-khelaifi","tag-norwegian-football-federation","tag-sepp-blatter","tag-sports-finance","tag-thrive","tag-uefa","tag-world-cup"],"yoast_head":"\n
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