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FIFA President Gianni Infantino has abandoned proposals to permit private investors to acquire stakes in FIFA competitions after strong opposition from stakeholders across the global football community.
Mr. Infantino confirmed the withdrawal in a statement, saying the proposal had created divisions that were no longer aligned with the original objectives of the initiative.
“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," he said.
The proposed investment structure involved a consortium led by Thrive Eternal, a fund managed by Thrive Capital, established by Joshua Kushner, the brother of Jared Kushner, who is married to the daughter of US President Donald Trump.
The plan drew criticism from many within the football community, who expressed concerns about the potential ramifications of private ownership and outside investment on the governance, autonomy and long-term direction of FIFA competitions.
FIFA has now opted to drop the proposal as it seeks to prevent further discord within the sport and preserve unity among its international stakeholders.
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