FIFA President Gianni Infantino says he will not pursue the controversial plan to sell shares in FIFA tournaments to venture capital firms.
"After carefully listening to all views, it has become clear that the project has created divisions of a kind that, regardless of the degree of support, is no longer in line with the objective originally set," FIFA wrote in a statement attributed to Infantino.
Welcome the news
The Asian Football Confederation welcomes the announcement and says in a comment that future decisions must be discussed among the various member countries and associations in a transparent manner. "The future of global football must be decided through orderly discussions, joint dialogue and respect for the established governance of our sport."
Journalist and columnist Olof Lundh on TV4 believes that Infantino was convinced that the proposal would go through, but that UEFA's harsh criticism and internal defections made Infantino change his mind.
"I think he was intoxicated by his power and thought this would work. But when several of his own advisors turned against him, it was impossible to continue this," he says.
It all started when FIFA announced this week that it wanted to sell shares in all its tournaments, including the World Cup, to private investors.
The proposal was met with massive criticism in the football world, including from UEFA and its 55 member associations, who threatened to boycott FIFA tournaments. The Asian Football Confederation (AFC) and Concacaf (the Confederation of North, Central American and Caribbean Association Football) also rejected FIFA's proposal.
“Will not give up”
FIFA has said the plan could give each of the 211 member associations a one-off payment of at least $20 million as well as increased funding over a few years, according to AFP.
In March next year, FIFA's 77th Congress will be held, when Infantino is expected to run for another four years as president. Olof Lundh believes that the debacle has affected Infantino's chances of re-election.
It is clear that his position of power is weakened. But there is little time until the congress and I am sure that he will not give up, says Olof Lundh, who notes that Infantino seems to have unwavering faith in himself.
One should be careful about making diagnoses, but he is clearly grandiose and narcissistic.
