FIFA's $20B World Cup cash grab collapses after triggering anti-Gianni Infantino campaign

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FIFA's controversial plan to sell a stake in its commercial rights to outside investors has reportedly collapsed following an open revolt among football's governing bodies worldwideFIFA's plan to sell stakes in the World Cup has collapsed(Image: Chris Brunskill/Fantasista, Getty Images)FIFA's contentious scheme to sell a portion of its commercial rights to external investors has fallen apart following widespread opposition from football's governing bodies across the globe and a dramatic split within FIFA's own senior management that has placed President Gianni Infantino's position under severe threat.The plan had sought to generate up to $4.2 billion by offloading approximately 20 percent of a freshly established entity, FIFA Forward Enterprise (FFE), which would have overseen television rights, sponsorship deals, licensing arrangements, and ticketing for upcoming World Cups, placing a $20 billion valuation on the new division.Thrive Eternal, an investment company headed by Joshua Kushner, brother of White House adviser Jared Kushner and brother-in-law of President Donald Trump, was poised to lead the agreement alongside consultancy services from JPMorgan.But Infantino confirmed on Friday that the plan has been scrapped. "The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed," the FIFA president said in a statement."And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders."Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place.

UEFA's 55 member associations unanimously committed to boycotting all FIFA tournaments, including the men's and women's World Cups, unless the plan was scrapped completely and FIFA pledged never to expose its governance to private ownership again."The FIFA World Cup belongs to football. "And so long as Europe has a voice, it will never be for sale."CONCACAF, representing 41 countries including World Cup hosts the United States, Canada, and Mexico, similarly rejected the proposal after holding its own emergency session, while the Asian Football Confederation demanded an "urgent review" of FIFA's governance framework.The opposition penetrated Infantino's closest allies.

Soccer president, stepped down in protest, describing the proposal as "a bad deal for football" and challenging why FIFA required external investment considering the unprecedented revenue delivered by this year's 48-team World Cup.Several continental soccer federations openly opposed the controversial plan(Image: Getty Images)FIFA chief operating officer Kevin Lamour went even further, informing the Associated Press that FIFA personnel had been "deceived" by Infantino's management of the scheme. At least I'll sleep well tonight." The controversy has sparked speculation regarding a serious challenge to Infantino's leadership before FIFA's March ballot in Rabat, Morocco.Sky News revealed that a minimum of 90 out of FIFA's 211 member associations stood against the proposal, with CONCACAF president Victor Montagliani and Asian Football Confederation president Sheikh Salman bin Ebrahim al-Khalifa, who came close to defeating Infantino in 2016, both considered possible contenders should growing pressure trigger a shift at the helm of football's global governing body.