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FIFA has abandoned its proposal to sell a 20% stake in a new unit managing World Cup events, intended to raise $4.2 billion, following significant opposition from member associations, particularly UEFA. President Gianni Infantino acknowledged the divisions the plan caused and confirmed the project’s discontinuation.
FIFA’s Chief Operating Officer, Kevin Lamour, stated staff were misled regarding President Gianni Infantino’s plan to sell World Cup profit stakes to private equity. Lamour advocated against the proposal, highlighting the need for transparent decision-making within the organisation, following the resignation of senior adviser Carlos Cordeiro.
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