GENEVA: FIFA President Gianni Infantino faced renewed criticism from European football authorities after FIFA abandoned a plan to allow private investment in the World Cup and other major competitions following strong opposition from member confederations.
UEFA, which led resistance to the proposal, welcomed the withdrawal but said the controversy had damaged confidence in FIFA’s leadership, accusing Infantino of pushing forward with a process that lacked transparency.
“The current FIFA leadership has not only lost UEFA’s confidence but also that of many other members of the football family,” UEFA said in a statement.
FIFA announced on Saturday that the proposed investment plan would not move forward, after criticism intensified following its introduction earlier in the week.
“Our purpose has always been — and will always be — to unite and improve,” Infantino said in a statement. “As a result, this proposal will not proceed.”
The plan involved the creation of a new commercial subsidiary, FIFA Forward Enterprise (FFE), which FIFA said could raise up to $4.2 billion based on a projected valuation of $20 billion. The funds would have been used to increase financial support for FIFA’s 211 member associations.
Under the proposal, each member association could have received a one-time payment of $20 million in early 2027, while funding allocations for the 2027-2030 cycle could have increased from $8 million to $20 million.
UEFA said the proposal contradicted commitments Infantino made when he was first elected FIFA president in 2016, particularly regarding transparency and the use of FIFA’s financial resources.
“The shabby, back room, opaque deal he hatched and tried to force through were anything but transparent,” UEFA said.
The criticism was also echoed by other football bodies, including the Asian Football Confederation (AFC), CONCACAF, and CONMEBOL, which called for greater consultation with stakeholders before major decisions affecting global football are introduced.
Pressure on Infantino increased further after the resignation of senior adviser Carlos Cordeiro, who described the investment proposal as harmful to FIFA member associations and the future of the sport.
Infantino said the initiative was designed to strengthen football development worldwide but acknowledged that divisions created by the proposal made it impossible to continue.
“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,” Infantino said.
The controversy comes as questions emerge over Infantino’s prospects for securing another term as FIFA president in the upcoming election.
Originally Published by: AFP
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