FIFA President Gianni Infantino on Friday abandoned his controversial plan to sell part of the World Cup’s commercial rights to private investors in the face of global outrage—barely 72 hours after the proposal was first leaked.
The plan had been designed to raise $4.2 billion of capital through the sale of roughly 20% of an entity called FIFA Forward Enterprise.
“Having listened carefully to all the views,” Infantino said, “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.”
The plan had been designed to raise $4.2 billion of capital through the sale of roughly 20% of an entity called FIFA Forward Enterprise. And Thrive Capital, the firm founded by Joshua Kushner, was positioned to be a leading investor.
But even Infantino hadn’t expected the reaction from the global soccer community to be so forceful. European countries announced that they would boycott all FIFA competitions, including the men’s and women’s World Cup. Federations in Asia, North America, and the Caribbean all expressed deep concerns. And, on Friday, even Infantino’s closest allies began to turn against him.
First came the resignation of Carlos Cordeiro, a former Goldman Sachs banker and president of U.S. Soccer who had been a key architect of this summer’s World Cup and a conduit to the White House. Then, hours later, Infantino was castigated by FIFA’s own No. 3 executive, chief operating officer Kevin Lamour.
“It is the project of one person,” Lamour wrote in a statement released to the Associated Press. “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.”
Lamour added that FIFA staff had been “deceived” by Infantino’s plan for FIFA Forward Enterprise, which completely blindsided the organization’s staff and 211 member associations when it leaked on Tuesday. “And if that means I lose my job then so be it,” Lamour wrote. “I will understand and respect that decision. At least I’ll sleep well tonight.”
For Infantino, a 56-year-old Swiss lawyer, the torrent of outside criticism had been one thing. But the internal rebukes were particularly cutting—and posed the greatest risk. Infantino has always run FIFA with little regard for differing views inside the building. The man who once said he would like to be “the King of Football” has often conducted himself as the organization’s sole executive, believing that any opponents simply misunderstood his purpose.
When he celebrated his 10th anniversary in charge, he threw at least three separate parties. And, as recently as a few weeks ago, he expected to be swept into office for a third full term next March with the support of at least 200 of FIFA’s 211 member associations.
“To those behind their pens and papers, behind their screens spreading hate and false rumors,” he wrote in an Instagram screed before anyone had even heard of FIFA Forward Enterprise, “I want to say that while you are sitting behind, we at FIFA are on the front lines organizing, working hard, and delivering the best show in the world.”
The past week, however, has proven to be the most damaging of his tenure. Though he has scrapped FIFA Forward Enterprise, the legacy of the program will have been emboldening Infantino’s sharpest critics.
“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks,” Infantino said, “in the spirit of shared interest in our game.”
