FIFA’s Infantino scraps controversial World Cup private investment plan – Al Jazeera

FIFA’s Infantino Scraps Controversial World Cup Private Investment Plan

In a significant move, FIFA President Gianni Infantino has announced the cancellation of the organization’s private investment plan for the upcoming World Cup. The plan, which was initially introduced in April, aimed to raise $25 billion in private investment to support the infrastructure and organization of the tournament.

However, the proposal faced intense criticism from various stakeholders, including European football associations and member countries. Critics argued that the plan would compromise FIFA’s integrity and expose the organization to potential corruption risks.

Infantino’s decision comes after a meeting with the FIFA Council, where members expressed concerns about the proposal. In a statement, Infantino acknowledged the criticism and stated that the organization would instead rely on its usual revenue streams, including TV rights and sponsorships.

The move is seen as a victory for European football associations, which had threatened to boycott the World Cup if the private investment plan went ahead. The European Club Association (ECA) had expressed concerns that the plan would allow wealthy private investors to exert undue influence over the tournament.

The cancellation of the private investment plan is a significant relief for FIFA, which has faced numerous corruption scandals in recent years. Infantino’s decision to abandon the plan is a testament to the organization’s commitment to transparency and accountability.

The 2026 World Cup is set to be hosted in the United States, Canada, and Mexico, and the cancellation of the private investment plan is expected to have a significant impact on the tournament’s infrastructure and organization.