FIFA drops $20 billion World Cup stake sale after boycott threats
What's new: Gianni Infantino scrapped the plan after UEFA, CONCACAF and Asia's confederation lined up against it.
FIFA abandoned its plan to place minority stakes in a new commercial unit controlling the World Cup and other tournaments after a widening revolt from regional soccer bodies. FIFA President Gianni Infantino said the proposal would not proceed because it had created divisions that no longer served its stated goal. The retreat followed UEFA's threat to boycott FIFA competitions, CONCACAF's rejection of the plan and the Asian Football Confederation's public backing for that opposition. The proposed vehicle, FIFA Forward Enterprise, had been pitched as a way to attract outside investment and raise distributions to member associations. Critics argued FIFA rushed the process, bypassed governance channels and put private ownership too close to the sport's premier events.