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07/31/26 08:33:00
Printable Page
07/31 20:31 CDT Infantino abandons plans to sell World Cup profits to private
equity following massive pushback
Infantino abandons plans to sell World Cup profits to private equity following
massive pushback
By GRAHAM DUNBAR
AP Sports Writer
GENEVA (AP) --- FIFA President Gianni Infantino is abandoning his divisive plan
to sell World Cup profits to private equity after receiving pushback from all
corners of the soccer world.
Infantino's decision came after his senior adviser who sat on a White House
panel resigned and Asia's soccer body joined Europe and North America in
opposing it.
"Having listened carefully to all the views, it has become clear that the
project has created divisions of a nature that, regardless of the level of
support, are no longer in the interest of the objective set out in the first
place," Infantino said in a statement on Friday. "Our purpose has always been
--- and will always be --- to unite and improve. As a result, this proposal
will not proceed."
Infantino had proposed creating a $20 billion company to run the World Cup with
private investors including the Kushner family, but drew backlash that grew
every day since Tuesday's announcement.
UEFA's 55-member nations agreed to boycott the World Cup and all other FIFA
competitions over Infantino's plan on Thursday. North America's CONCACAF and
the Asian Football Confederation also said they opposed the plan.
"Some things are simply too important to sell," UEFA said in a statement. "The
FIFA World Cup belongs to football. It always will. And so long as Europe has a
voice, it will never be for sale."
Infantino's senior adviser, Carlos Cordeiro, a former Goldman Sachs banker who
represented the soccer body on the White House Task Force for the World Cup,
resigned on Friday and urged other senior FIFA staff to speak out.
"I cannot stand by while FIFA considers selling a stake in the World Cup,"
Cordeiro said in a statement, just hours after FIFA insisted: "Nobody is
selling football."
Hours later, FIFA chief operating officer Kevin Lamour issued a statement to
The Associated Press, saying FIFA staff were deceived by Infantino's lack of
openness in planning the sale over recent months and that the project must not
continue.
"It is the project of one person," Lamour, a longtime colleague of Infantino at
both FIFA and European soccer body UEFA, wrote. "Not only must this project not
go ahead ... but the time has now come for football political leaders to ask
themselves the right questions and make the right decisions."
Infantino has proposed spinning off FIFA's commercial businesses --- including
World Cups and Club World Cups for men and women --- into a $20 billion
subsidiary with 20% owned by private investors.
The "anchor investor," described by FIFA, is a New York-based investment firm
created by Joshua Kushner, the younger brother of U.S. President Donald Trump's
son-in-law, Jared Kushner.
The next FIFA competition is the Women's Under-20 World Cup starting Sept. 5 in
Poland --- which UEFA members said they would boycott.
The misstep could prove costly for Infantino, particularly after the
interventions by Lamour and Cordeiro.
Reelected unopposed in 2019 and 2023, Infantino is allowed one more four-year
term under FIFA statutes. The deadline for the next presidential contest is
Nov. 18, exactly four months ahead of the vote in Rabat, Morocco, where FIFA
has its African headquarters.
Infantino's job seemed secured despite long-term unease with his style and
previous attempts to force through unpopular projects, but could become more
tenuous with the failed private equity proposal.
___
AP soccer: https://apnews.com/hub/soccer and AP World Cup coverage
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