Here’s the latest update from the ongoing FIFA World Cup as of 2026-08-01 00:44:00.
FIFA president Gianni Infantino has decided to abandon his proposal to sell stakes in the World Cup following significant backlash from the global football community, including threats of boycott from European nations. The initial plan aimed to create a $20 billion subsidiary for FIFA’s commercial enterprises, which included both men’s and women’s World Cups, with private investors owning 20% of the stake.
The proposed “anchor investor” was a New York-based firm founded by Joshua Kushner, the brother of Jared Kushner, former President Trump’s son-in-law. However, in a statement released late on Friday, Infantino confirmed that the “proposal will not proceed.”
Infantino mentioned, “Having listened carefully to all the views, it has become clear that the project has created divisions that are no longer in the interest of the objective set out in the first place.” The backlash wasn’t limited to external critics; internal dissent began to surface as two senior FIFA officials publicly condemned the plan, and one even resigned as a presidential adviser.
Carlos Cordeiro, who had previously represented FIFA on the White House Task Force for the World Cup, resigned in protest, stating, “I cannot stand by while FIFA considers selling a stake in the World Cup.” Cordeiro, a former Goldman Sachs banker, called for other senior staff to speak out against the proposal.
Kevin Lamour, FIFA’s chief operating officer, criticized Infantino’s lack of transparency regarding the private investor scheme, saying the staff were “deceived” and deserved better treatment. Although Lamour chose not to resign, he expressed commitment to his colleagues, adding that he would accept any consequences of his stance.
As the situation escalated, European nations united in their decision to boycott the World Cup and all FIFA competitions, emphasizing that “some things are simply too important to sell.” UEFA remarked on the matter as a “profound failure of leadership” and a failure of FIFA’s role as the custodian of global football.
Following the uproar, other football confederations, including Concacaf and the Asian Football Confederation, voiced their opposition to the sell-off plan. Infantino concluded his statement expressing intent to unite all interested parties moving forward, particularly in support of football in underprivileged nations.
FAQs
What prompted Infantino to scrap the sell-off plan?
Widespread backlash and threats of boycott from European nations contributed to Infantino’s decision.
What are the implications for the FIFA World Cup 2026?
The cancellation of the sell-off plan aims to strengthen unity within FIFA as preparations for the 2026 World Cup continue.
Quick Facts
- Category:
- Source: www.espn.com – SOCCER
- Published: 2026-08-01 00:44:00
Follow live coverage on the FIFA World Cup 2026 right here as the tournament continues.
Tags: #Infantino #scraps #FIFA #World #Cup #selloff #plan #backlash
Tags: #Infantino #scraps #FIFA #World #Cup #selloff #plan #backlash
