Gianni Infantino, President of the International Federation of Association Football (FIFA), has officially announced the cancellation of plans to attract private investors for the World Cup. This decision is the result of unprecedented pressure from the global football community, which threatened a total boycott of tournaments.

A Billion-Dollar Plan

The initiative, announced earlier in the week, proposed the creation of a new company, FIFA Forward Enterprise, with an estimated capitalization of $20 billion. FIFA planned to sell 20% of the company's shares to attract up to $4.2 billion in investment. The Thrive Eternal fund, linked to the Jared Kushner family, was considered a key partner.

However, instead of support, the project faced fierce resistance. UEFA and all 55 member countries of the European confederation unanimously announced a boycott of all FIFA-organized tournaments. They were joined by CONCACAF (41 countries) and the Asian Football Confederation (AFC) (47 countries).

Mass Protest and Rift

In total, 143 out of 211 national associations opposed the project. Such a large-scale protest made the implementation of the initiative impossible. Even Infantino's promises to pay each association $40 million failed to change the stance of the football community.

"After listening to all sides, it became clear that the project created a rift that no longer serves our purpose. Our task is to unite. Therefore, this proposal will not be implemented," stated Gianni Infantino.

Crisis Within the Leadership

The scandalous initiative triggered a crisis within FIFA's own leadership. Infantino's senior advisor, Carlos Cordeiro, immediately resigned, calling the agreement "bad for football." FIFA's Chief Operating Officer, Kevin Lumour, stated that the organization's staff had been "misled" to implement the president's personal project.

The failure of the investment idea has significantly shaken the position of the 56-year-old Infantino ahead of next year's FIFA presidential elections. One of his potential rivals could be CONCACAF president Victor Montagliani.

Consequences for the Future of Football

Previously, Daniil Vereitin, head of the sports editorial department at RBK-Ukraine, analyzed why Infantino's plan to sell the World Cup was a bad idea for football. Now, following the cancellation of the project, the global community may breathe a sigh of relief, although the consequences of this scandal will be felt for a long time.