FIFA withdraws $4.2 billion stake sale proposal after UEFA-led revolt by football federations

World football's governing body FIFA has abandoned its controversial plan to sell a minority stake in a new commercial entity after fierce opposition from continental confederations and member associations, marking a significant setback for one of President Gianni Infantino's biggest commercial initiatives.

The proposal, which aimed to raise as much as $4.2 billion by selling around 20% of a newly created commercial arm managing the FIFA World Cup and other global tournaments, was withdrawn on Friday after UEFA, CONCACAF and the Asian Football Confederation (AFC) united against the move.

In a statement, Infantino acknowledged that the proposal had become too divisive to pursue.

"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," he said, adding that FIFA's purpose "has always been—and will always be—to unite and improve."

Resistance faced

FIFA had unveiled the proposal earlier this week, arguing that bringing in external investors would unlock billions of dollars that could be used to develop football worldwide.

The plan involved creating a $20-billion commercial subsidiary, known as FIFA Forward Enterprise (FFE), which would manage FIFA's commercial rights, including those linked to the World Cup. FIFA intended to sell about a 20% stake in the entity to a group of private investors.

According to Reuters, Thrive Eternal, an investment fund managed by Thrive Capital, was expected to lead the investor consortium. Thrive Capital was founded by Joshua Kushner, the brother of Jared Kushner, son-in-law of US President Donald Trump.

UEFA called it 'selling football's soul'

The proposal triggered an immediate backlash from football's leading confederations.

UEFA accused FIFA of treating football as a financial asset rather than a global sport, describing the proposal as an attempt to sell the game's "soul." The European governing body warned it would boycott FIFA competitions if the proposal was not withdrawn.

The resistance quickly spread. CONCACAF, representing North America, Central America and the Caribbean, also rejected the proposal, while the AFC announced that it stood in solidarity with UEFA and CONCACAF.

Together, the three confederations represent 143 of FIFA's 211 member associations, giving them a clear majority and effectively ending the proposal's chances of securing the approval required for implementation.

Internal dissent compounds pressure

Opposition also emerged from within FIFA itself.

Carlos Cordeiro, a senior adviser to Infantino, resigned, reportedly calling the proposal a "bad idea for football." FIFA Chief Operating Officer Kevin Lamour also criticised the initiative, alleging that Infantino had misled board members and describing the proposal as a "project of one person."

Focus shifts back to football development

Despite withdrawing the proposal, Infantino reiterated FIFA's commitment to expanding investment in football development and said he would continue engaging with stakeholders in the coming weeks.

"Our purpose has always been—and will always be—to unite and improve," he said, adding that FIFA would work with member associations to continue growing the sport, particularly in countries that need greater financial support.

The withdrawal leaves the commercial rights to the World Cup and FIFA's other flagship tournaments fully under the governing body's control, while highlighting the limits of commercial reform when it lacks broad support from the global football community.