rki.news | Source: Anadolu
Hamilton, Canada
FIFA President Gianni Infantino has withdrawn plans to sell a stake in a proposed subsidiary that would oversee the FIFA World Cup and other major competitions, saying the initiative had created unnecessary divisions.
In a statement posted on X, Infantino said the FIFA Forward Enterprise project was originally designed to strengthen FIFA’s member associations and support football development worldwide, particularly in countries requiring greater investment.
He said consultations with stakeholders made it clear that the proposal had become divisive and was no longer serving its intended purpose of promoting unity within world football.
“Our purpose has always been, and will always be, to unite and improve,” Infantino said, confirming that the proposal would not move forward.
The abandoned plan had proposed selling more than a 20 percent stake in a new subsidiary reportedly valued at $20 billion to private investors. Earlier this week, FIFA announced the creation of the enterprise to manage the World Cup and other global competitions while attracting outside investment.
Infantino said FIFA will continue consulting stakeholders to identify alternative ways to expand football globally, with particular emphasis on supporting developing football nations.