FIFA’s Infantino Scrambles To Save Job After World Cup Equity Plan Backfires

FIFA President Gianni Infantino's ambitious plan to sell shares in future profits from World Cup tournaments and other FIFA events has collapsed, leaving him facing significant backlash and potential mutiny within European soccer. U.S. President Donald Trump, who once called Infantino the "King of Soccer," watched the World Cup final with the FIFA chief just two weeks ago.

Despite initial success and financial gains, Infantino's decision to invite private investors, led by Joshua Kushner, to purchase a stake in the future earnings from World Cups and FIFA events has caused a seismic rift in global soccer.

The backlash has threatened Infantino's job, as European nations threatened to boycott FIFA events and senior staff accused him of deception. Infantino announced on Saturday from FIFA headquarters in Switzerland that he was abandoning the plan, stating that the project had created divisions that were no longer in the best interest of FIFA's objective.

The proposal would have created a subsidiary, known as FIFA Forward Enterprise (FFE), to manage the money-making aspects of FIFA, with private equity and petrostate sovereign wealth money funding a 20% stake. However, the move was met with strong opposition from European soccer federations, Asian and North American bodies, Britain's Prime Minister, FIFA's top executives, and fans worldwide.

Despite initial support from about 200 of FIFA's 211 national member federations, Infantino's support remains uncertain after scrapping the divisive investment project. The opposition from European soccer federations, particularly UEFA, has led to his senior adviser resigning and FIFA chief operating officer Kevin Lamour defending his colleagues.

The plan would have raised $4.2 billion from investors, with each FIFA member federation offered $20 million each, and the amounts increasing over time. This sum would have been a significant financial burden for smaller soccer federations, while deep-pocketed powers like England, Spain, and France had other priorities.

The opposition to Infantino's plan has been broad, with key moves by UEFA threatening a boycott of FIFA competitions until the project is dropped. European soccer powers fear that private investors may demand more games and bigger competitions, threatening the balance of global soccer and the attention and revenues for club soccer.

Infantino's credibility as FIFA president now hangs in the balance, with UEFA announcing that they have lost confidence in him and that "no option should be off the table" as they prepare to take further action.