FIFA President Gianni Infantino dropped plans to sell stakes in the World Cup to private investors after severe backlash from worldwide soccer confederations. File Photo by Will Oliver/UPI | License Photo
July 31 (UPI) -- FIFA dropped Friday a plan to sell stakes in the World Cup to private investors after severe backlash from worldwide soccer confederations.
President Gianni Infantino had revealed earlier this week a plan to create FIFA Forward Enterprise, which would have offered a 20% stake to private investors in the $20 billion venture.
"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," Infantino said in a statement. "Our purpose has always been -- and will always be -- to unite and improve."
"As a result, this proposal will not proceed."
