FIFA has announced it is shelving the plan to privatize the World Cup, which was expected to generate tens of billions for the organization, according to a report by N12. The decision follows UEFA's threat to boycott the next tournament over the privatization proposal.
FIFA officially announced on Saturday morning that it is shelving the controversial plan to privatize the World Cup, according to a report by N12. The decision follows UEFA's threat to boycott the next tournament over the proposal. The announcement marks a formal end to the initiative, which would have sold parts of the tournament to private investors and was expected to generate tens of billions of dollars for FIFA.
The development comes after a series of reports on Friday, July 31, at 17:57 Jerusalem time, when The Zioneer reported that FIFA President Gianni Infantino had canceled the plan 'at the last moment,' citing a report by ynet. Infantino confirmed the cancellation to Sky News, stating the proposal had 'created controversies.' Earlier that day, FIFA's chief operating officer told the Associated Press that staff were 'deceived' by the plan and that it 'must not go ahead.' The shelving also follows the UEFA threat, which The Zioneer reported on July 30, when the European football body launched an unprecedented attack on Infantino and warned that national teams would fully boycott the 2030 World Cup if the plan proceeded. On July 29, Infantino had defended the proposal as a suggestion, not a mandate.
As The Zioneer reported on July 30, UEFA described the World Cup as 'not for sale' and said the competition belongs to football. The European body's opposition, backed by all 55 member associations, ultimately forced FIFA to abandon the plan.
The exact financial implications of the shelved plan remain unclear, but N12 reports the initiative was expected to bring in tens of billions of dollars to FIFA.
5 developments
- DevelopingUEFA threatens to boycott next World Cup, says competition 'not for sale' — N12 reports
- StrongUEFA launches unprecedented attack on FIFA's Infantino, threatens 2030 World Cup boycott over privatization plan
- DevelopingInfantino pushes back against criticism over 'selling the World Cup' proposal
- DevelopingReports: FIFA examining implications of expanding World Cup to 64 teams by 2030
Source and signal
- Open-source intake