FIFA has scrapped plans to sell a stake in the FIFA Forward Enterprise (FFE) after the proposal sparked opposition from leading football confederations and members of its own leadership.
TheNewsGuru (TNG) reports the decision marks a major policy reversal by FIFA President Gianni Infantino, who had backed the initiative as a way of generating fresh funds to support football development around the world.
Under the proposal, FIFA planned to sell about $4.1 billion worth of shares in the FIFA Forward Enterprise to private investors. However, the plan failed to win the support of key stakeholders.
Among those opposed were UEFA, CONCACAF and Asian Football Confederation. Two members of FIFA’s hierarchy also reportedly rejected the proposal.
Faced with growing resistance, Infantino announced that FIFA would no longer pursue the investment plan.
“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.
He added that FIFA’s overriding responsibility is to promote unity across the global football community.
“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed,” he stated.
Infantino maintained that FIFA remains committed to expanding football worldwide, particularly in countries where the game requires greater financial and developmental support.
“The objective is to continue growing football everywhere, and particularly in those countries that mostly need our support,” he added.
TNG reports the withdrawal represents a significant setback for the proposed FIFA Forward Enterprise funding model, which was designed to unlock new investment for the global game.
Instead, FIFA will now have to explore alternative ways of financing its long-term football development programmes without private equity participation.