Gianni Infantino drops FIFA private investment plan as UEFA says it has lost confidence | OneFootball

According to Le Progres, Gianni Infantino scrapped on Saturday a plan to open FIFA to private investors after fierce criticism from UEFA, which says it has lost confidence in the FIFA president.

The proposal, unveiled on Tuesday, had sparked fears of football’s commodification and potential conflicts of interest. Infantino said the project had created damaging divisions and would not proceed, and he has been further weakened by the recent resignation of his principal adviser, Carlos Cordeiro.

UEFA welcomed the retreat but said it could not continue with secretive, rapid manoeuvres driven by unnamed figures whose commitment to the sport is in doubt.

The European body, which brings together 55 associations and includes seven of the last 10 world champions, had unanimously threatened on Thursday to shun future FIFA events, including the World Cup, unless the scheme was abandoned.

FIFA’s plan sought to channel 10 billion dollars into football development over the next four years by creating a new company, the Fifa Forward Entreprise (FFE), open to private investors to run its commercial and events operations.

Many feared competitions, and the game itself, would be distorted. Asian Football Confederation president Shaikh Salman welcomed the withdrawal and urged proper consultation, collective dialogue, respect for governance structures and greater transparency on any similarly ambitious proposals.

Source: Le Progres