FIFA has officially abandoned its controversial proposal to sell minority stakes in its flagship competitions, including the men's and women's FIFA World Cups, following strong resistance from football associations around the world.
FIFA President Gianni Infantino announced that the governing body would no longer pursue the plan, admitting that the proposal had become increasingly divisive among its member associations.
"As a result, this proposal will not proceed," Infantino said.
The proposal sought to establish a new commercial subsidiary that would manage FIFA's major tournaments while allowing external investors to acquire minority, non-controlling stakes in the business.
According to reports, the initiative was designed to unlock additional commercial revenue and strengthen FIFA's long-term financial position without relinquishing control of its premier competitions.
Infantino had also reportedly offered each of FIFA's 211 member associations up to $40 million (£30 million) in funding if they endorsed the proposal.
However, the plan faced widespread criticism from football associations and stakeholders who raised concerns over the commercialisation of the World Cup and the potential influence of private investors on the governance of the sport.
The decision to withdraw the proposal is expected to preserve FIFA's existing ownership structure and maintain direct control over its most prestigious international competitions.
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