This decision was influenced by the resignation of his senior adviser, who had been part of a White House panel, as well as opposition from Asia’s soccer organization, which joined Europe and North America in their disapproval.
“After carefully considering all perspectives, it has become evident that this initiative has sparked divisions that are no longer conducive to our initial objective,” Infantino stated on Friday. “Our goal has always been — and will continue to be — unity and enhancement. Consequently, this proposal will not move forward.”
Infantino had suggested the creation of a $20 billion entity to manage the World Cup with private investors, including the Kushner family, but faced escalating opposition since his announcement on Tuesday.
UEFA’s 55 member nations declared their intent to boycott the World Cup and all other FIFA events on Thursday due to Infantino’s plan. Similarly, CONCACAF from North America and the Asian Football Confederation also expressed their dissent.
“Some things are simply too significant to be sold,” UEFA articulated in a statement. “The FIFA World Cup is an asset of football. It always will be. As long as Europe has a voice, it will never be for sale.”
Infantino’s senior adviser, Carlos Cordeiro, a former Goldman Sachs banker who served on the White House Task Force for the World Cup, resigned on Friday and encouraged other senior FIFA executives to voice their concerns.
“I cannot remain silent while FIFA contemplates selling a stake in the World Cup,” Cordeiro stated, shortly after FIFA asserted: “Nobody is selling football.”
Not long after, FIFA chief operating officer Kevin Lamour issued a statement to The Associated Press, detailing that FIFA staff felt misled by Infantino’s lack of transparency regarding the sale plans over recent months and insisted that the project should not proceed.
“This is the initiative of one individual,” Lamour, a long-time associate of Infantino at both FIFA and UEFA, wrote. “Not only should this project not advance… but now is the moment for football’s political leaders to reflect and make the necessary decisions.”
Infantino had proposed separating FIFA’s commercial operations — which include World Cups and Club World Cups for both men and women — into a $20 billion subsidiary, with 20% ownership by private investors.
The “anchor investor,” as referred to by FIFA, is a New York-based investment firm established by Joshua Kushner, the younger brother of U.S. President Donald Trump’s son-in-law, Jared Kushner.
The next FIFA event is the Women’s Under-20 World Cup, commencing on Sept. 5 in Poland — which UEFA members have declared they will boycott.
This miscalculation may have significant repercussions for Infantino, especially following the interventions by Lamour and Cordeiro.
Reelected unopposed in both 2019 and 2023, Infantino is permitted one additional four-year term as per FIFA regulations. The deadline for the next presidential election is Nov. 18, exactly four months before the vote in Rabat, Morocco, where FIFA’s African headquarters is located.
While Infantino’s position seemed stable despite ongoing dissatisfaction with his methods and previous efforts to push through unpopular initiatives, the failed private equity proposal may complicate his tenure.
