FIFA has abandoned plans to sell part of its business due to strong resistance from some member associations. This was reported by CNBC.
The organization aimed to raise up to $4.2 billion by selling a 20% stake in a new division that was to manage FIFA's events, including the World Cup. The total estimated value of the project was $20 billion.
However, the initiative faced severe criticism from the Union of European Football Associations (UEFA). UEFA threatened to boycott and accused FIFA's leadership of attempting to sell the 'soul' of the sport.
FIFA President Gianni Infantino stated that after reviewing all opinions, it became clear that the project had caused serious disagreements, and thus the proposal would not be implemented.
In the wake of the scandal, on July 31, 2026, the organization's senior advisor Carlos Cordeiro immediately resigned, calling the project an unfavorable deal for football.
FIFA's Chief Operating Officer Kevin Lamour also noted that the organization's employees had been misled and described the failed initiative as a 'one-man project.'
