By Ian Ransom and Kokkai NgAug 1 (Reuters) - FIFA president Gianni Infantino, hitherto untouchable at the helm of soccer's global governing body, suffered a crushing blow on Friday when his bold reach for private equity riches was brought to an end in the face of a ferocious backlash.A FIFA statement, attributed to Infantino, conceded that the proposal to create a commercial entity to run the World Cup and other tournaments, 20% of which would be sold to private investors, was divisive and dead in the water.

Gianni Infantino has shown his true colours in setting out his plan to sell a stake in the global game to private investors - the time has come to topple him as FIFA's president

The Fifa boss has risked his own re-election, say experts, amid growing outrage over his ‘gamble’ to hand stakes to private investors