FIFA presses $4.2 billion World Cup stake sale despite backlash
What's new: UEFA threatened a boycott, Concacaf rejected the plan and a senior Infantino adviser quit in protest.
FIFA is pushing ahead with a plan to raise $4.2 billion by selling a minority stake in FIFA Forward Enterprise, a new subsidiary that would control the business side of the World Cup, despite mounting resistance from across soccer. CNBC reported UEFA threatened to boycott FIFA competitions and the World Cup if the proposal advances, while Concacaf also rejected it over concerns about outside influence. FIFA said member associations would vote on the plan and that the venture would not proceed without majority backing. Joshua Kushner's Thrive Capital has backed the proposal, and Carlos Cordeiro, a senior adviser to FIFA President Gianni Infantino, resigned immediately, calling it a bad deal for football's future.