Infantino World Cup Plan
FIFA dropped a controversial World Cup investment plan after global backlash.
Summary
FIFA President Gianni Infantino dropped a plan to raise up to $4.2 billion by selling about 20% of FIFA Forward Enterprise, a new events unit valued at $20 billion, to outside investors. The unit would have controlled commercial operations for FIFA events, including the World Cup. Infantino said the project had created divisions that were no longer in the sport’s interest after opposition from UEFA, Concacaf and the Asian Football Confederation. UEFA members had threatened to boycott FIFA tournaments, and senior adviser Carlos Cordeiro resigned over the proposal.
The Coverage
Private equity overreachLeans Left
Selling a stake in the World Cup to private investors was an unacceptable commercialization of football’s premier event. The fierce backlash showed that soccer’s governing bodies and supporters may resist private equity when it threatens member control and the game’s public character.
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