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FIFA President Gianni Infantino announced on Friday that the governing body has shelved plans to bring private investors into a new commercial subsidiary overseeing the World Cup, saying the proposal had "created divisions.
The FIFA Forward Enterprise (FFE) project was unveiled earlier this week as a vehicle for managing the World Cup, Club World Cup, and other competitions. FIFA proposed selling more than a 20% stake in the new business, valued at $20 billion, in a move that could have raised up to $4.2 billion.
"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 wrote on X.
"Our purpose has always been—and will always be—to unite and improve," he added. "As a result, this proposal will not proceed."
FIFA promoted the proposal as a way to dramatically increase development funding without giving up control of the sport's governance.
Under the plan, each member association would have received a one-off payment of $20 million in early 2027, while regular FIFA Forward funding for the 2027-2030 cycle would have risen from $8 million to $20 million.
FIFA also outlined plans for funding to increase further in subsequent cycles if the project won approval from member associations.
The proposal quickly became one of world football's biggest governance controversies as FIFA sought to sell up to a 20% stake in FFE to an investor group led by Thrive Eternal, a permanent-capital investment vehicle backed by Joshua Kushner, the brother of Jared Kushner, the son-in-law of U.S. President Donald Trump.
In an earlier statement on Friday, FIFA said it remained committed to consulting its 211 member associations on the FIFA Forward Enterprise proposal, stressing that the initiative was designed to expand football development funding while keeping FIFA in full control of governance, competitions and sporting decisions.
The governing body added that "nobody is selling football" and that any investment would involve only minority, non-controlling stakes in the new subsidiary.
UEFA opposed the proposal, warning that its member associations would not participate in FIFA competitions while it remained under consideration.
"The World Cup cannot be treated as an investment product," it said, adding that "The World Cup is not for sale."
The Asian Football Confederation (AFC) and CONCACAF also voiced opposition, while South American governing body CONMEBOL sought more details about the project's structure, governance and potential impact.
Pressure also intensified after senior adviser Carlos Cordeiro resigned, calling the proposal "a bad deal for FIFA's member associations, a bad deal for football, and a bad deal for the long-term future of the game."
Following FIFA's reversal, the AFC welcomed the decision and said initiatives affecting global football should be presented and discussed with confederations, the FIFA Council, member associations and other stakeholders in a timely, transparent and meaningful manner.
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