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Infantino faces FIFA revolt after World Cup stake plan
The Guardian··6 Aug
FIFA president Gianni Infantino abandoned a plan to sell about 20 percent of a commercial subsidiary valued at 20 billion dollars after UEFA and other confederations opposed it. On August 5, Luis Figo said Infantino must go. FIFA's management board later restated full support for Infantino after crisis talks in Morocco. UEFA had threatened boycotts over the equity plan.
Prism
What It Means For You
- Football fans can treat World Cup commercial rights as still under FIFA control after the equity plan was withdrawn.
- Anyone following FIFA politics can note Luis Figo joined confederation pressure by calling for Infantino to resign.
- Viewers of the next FIFA meetings can watch whether board support holds against boycott talk from UEFA and allies.
What's Happening
- Infantino withdrew a plan to sell a minority stake in a FIFA commercial subsidiary valued at about 20 billion dollars.
- On August 5, Luis Figo said Infantino must go over the failed plan; FIFA's management board later reaffirmed support.
- Crisis talks were held in Morocco as confederations opposed the private investor model.
How The World Cup Stake Plan Collapsed
- FIFA Forward Enterprise would have let investors buy about 20 percent of commercial and event operations.
- UEFA and other confederations said football was not FIFA's to sell and threatened boycotts before the withdrawal.
- Reports linked the investor group to Thrive Eternal, associated with Joshua Kushner.
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