FIFA scraps controversial $20 billion World Cup investment plan
FIFA scraps controversial $20 billion World Cup investment plan FIFA’s proposed plan to sell private stakes in upcoming World Cup tournaments that sparked backlash from fans and soccer associations around the world has been scrapped, FIFA president Gianni Infantino said in a statement Friday. “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,” Infantino said. “Our purpose has always been - and will always be - to unite and improve. “As a result, this proposal will not proceed.” FIFA and Infantino had announced plans Tuesday to set up a separate subsidiary – involving private equity investment – that would control the commercial and operational rights to one of the globe’s biggest sporting events. The proposal had since come under intense scrutiny and criticism from many around the world, with UEFA sayi...