FIFA has abandoned its controversial plan to sell minority stakes in the World Cup to private equity investors after facing a threatened boycott from major football confederations across three continents. UEFA’s 55 member nations unanimously agreed to withdraw from the World Cup and all FIFA competitions if the plan went ahead, with the 41-member CONCACAF and 47-member Asian Football Confederation soon joining in opposition. Infantino’s $4.2 billion plan collapses under pressure The proposal, spearheaded by FIFA president Gianni Infantino, aimed to create a $20 billion commercial subsidiary called FIFA Forward Enterprise. It would have sold up to a 20% stake to outside investors to raise as much as $4.2 billion.
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Dexerto