FIFA drops $4.2 billion plan to sell stakes in World Cup profits
Why it matters: The retreat followed boycott threats, internal backlash and fresh uncertainty over Gianni Infantino's support.
FIFA abandoned a plan to raise $4.2 billion by selling about 20% of future World Cup and tournament profits to private investors after fierce backlash from soccer officials and staff. The proposal would have shifted FIFA's commercial business into a subsidiary called FIFA Forward Enterprise, valued at $20 billion, with Joshua Kushner's Thrive Eternal lined up as the anchor investor. FIFA's 211 member federations were to be offered $20 million each, with a Sept. 19 deadline to accept. Gianni Infantino said the project had created divisions that no longer served its original purpose. The fallout included threatened boycotts by European nations and new pressure on Infantino ahead of FIFA's leadership vote next March.