FIFA lose 'UEFA’s confidence' despite shelving World Cup private investment plan

FIFA president Gianni Infantino’s position remains under scrutiny on Saturday (Aug 1) despite scrapping plans to allow private investment in the World Cup. UEFA, the European football governing body, led the opposition, also backed by FAs worldwide, saying they would boycott all FIFA competitions, including the showpiece event, should the deal go ahead. While welcoming the proposal’s withdrawal, UEFA claimed that Infantino had lost their and other football family members' ‘confidence’ with his ‘shabby, back-room, opaque deal’.

After first revealing the plan to the world on Tuesday, Infantino, whose smooth path to unopposed re-election for a final term next year is being openly questioned, issued a statement backing down following severe global backlash.

"Our purpose has always been -- and will always be -- to unite and improve," Infantino said in a statement. "As a result, this proposal will not proceed."

The FIFA president floated the idea of forming a new firm called FIFA Forward Enterprise (FFE) to run marquee tournaments like the World Cup and the Club World Cup, and planned to sell some of its shares to private investors to raise $4.2 billion in cash. Infantino’s idea was to convince all 211 FAs to agree to sign up for it, while promising an upfront bonus of a $20 million payout in early 2027.

UEFA and other associations slammed this idea, and did not mince their words in holding Infantino to account for the debacle just weeks after he basked in the afterglow of a highly successful World Cup -- the first with 48 teams and hosted in three countries.

"The current FIFA leadership has not only lost UEFA's confidence but also that of many other members of the football family," read the statement.

UEFA accused the 56-year-old Swiss of breaking promises he made, namely to be "transparent" and that FIFA's money was "your (the member associations) money" and "not the money of the FIFA President."

"On both these promises, he has failed to deliver," said UEFA. "The shabby, back-room, opaque deal he hatched and tried to force through were anything but transparent.

"And with reserves standing at over $5bn, he has also failed to use associations' money for the benefit of the game."

Meanwhile, the Asian Football Confederation (AFC), which represents 47 member nations, said that any initiative that may impact global football should be "presented and discussed with the Confederations, the FIFA Council, Member Associations (MAs) and other stakeholders in a timely, transparent and meaningful manner.”

(With inputs from AFP)