FIFA Chief Loses UEFA Confidence Over Axed World Cup Stake Sale
UEFA has lost confidence in FIFA President Gianni Infantino after his plan to sell stakes in the World Cup to private investors was scrapped. The proposal, which met with fierce opposition from governing bodies across Europe, Asia, and South America, was abandoned late last night. UEFA insisted its nations would boycott FIFA tournaments if the plan had gone ahead, and now the European football body is calling for a full review and accountability, accusing Infantino of a “shabby, back room, opaque” deal.
Infantino’s senior adviser, Carlos Cado, resigned yesterday, and FIFA’s chief operating officer, Kevin Lamour, described the project as one that “couldn’t be accepted” by UEFA or its national associations. UEFA believes Infantino has lost the trust of the football world and is demanding a review of his leadership. The FIFA President’s current term expires in 2027, and he is due to stand for re-election in March.
The scrapped plan would have allowed private investors to buy stakes in flagship football events such as the World Cup, with Infantino proposing to spin off FIFA’s commercial businesses into a $20 billion subsidiary, 20% of which would be owned by private investors. However, the plan was met with fierce opposition, and UEFA has now declared that it has lost confidence in Infantino’s leadership.
The UEFA statement concluded that the proposal’s abandonment is a victory for the whole game, but it must not be the end of the story. The task of rebuilding trust in FIFA has only just begun. Challengers to Infantino must submit their candidacies for the March election by November 18.
In the context of FIFA’s governance, this development comes after years of controversy surrounding Infantino’s leadership, including criticism over his handling of FIFA’s financial resources and his commitment to transparency. The abandonment of the World Cup investment plan and the loss of confidence from UEFA mark a significant turning point in the FIFA President’s tenure.
