FIFA Cancels $20 Billion World Cup Investment Amid Backlash

WHO:

Yahoo - British Prime Minister Andy Burnham stated, "The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies."

CBS News - UEFA President Aleksander Čeferin stated, "We must identify those responsible and hold them to account."

CBS News - UEFA President Aleksander Čeferin stated, "The current FIFA leadership has not only lost UEFA’s confidence but also that of many other members of the football family."

CBS News - British Prime Minister Andy Burnham said, "This was an outrageous suggestion. The idea that it could even be brought forward shows that, in my view, [Infantino] is the wrong man to lead the organization."

CBS News - FIFA Chief Operating Officer Kevin Lamour stated, "It is the project of one person."

CBS News - Carlos Cordeiro, Infantino's senior adviser, resigned and called the proposal "a bad deal for football."

CBS News - UEFA President Aleksander Čeferin stated, "We cannot keep going on like this with secret schemes on fast-track timescales, cooked up by faceless individuals and of dubious benefit to the game."

CBS News - UEFA's 55 member associations unanimously voted to boycott all FIFA competitions until the proposal was withdrawn.

CBS News - Carlos Cordeiro, a senior adviser to FIFA President Gianni Infantino, resigned in protest against the proposal.

CBS News - Kevin Lamour, FIFA's chief operating officer, stated that FIFA staff were "deceived" by Infantino's lack of openness regarding the planning of the sale.

Yahoo - British Prime Minister Andy Burnham stated, "The idea that it could even be brought forward shows that, in my view, [Infantino] is the wrong man to lead the organization."

Yahoo - Carlos Cordeiro, Infantino's senior adviser, resigned and called the proposal "a bad deal for football."

Yahoo - Kevin Lamour, FIFA's chief operating officer, described the proposal as "the project of one person."

Yahoo - British Prime Minister Andy Burnham stated, "The idea that it could even be brought forward shows that, in my view, [Infantino] is the wrong man to lead the organization."

Yahoo - Carlos Cordeiro, Infantino's senior adviser, resigned and called the proposal "a bad deal for football."

Yahoo - Kevin Lamour, FIFA's chief operating officer, described the proposal as "the project of one person."

Sportskeeda - Gianni Infantino, President of FIFA

Sky Sports - UEFA, CONCACAF, Asian Football Confederation (AFC), British Prime Minister Andy Burnham

Variety - Carlos Cordeiro, FIFA's senior adviser

Yahoo Sports - Joshua Kushner, brother of Jared Kushner, U.S. President Donald Trump's son-in-law

WHAT:

Yahoo - Infantino's proposal aimed to create a subsidiary called FIFA Forward Enterprise (FFE) to manage FIFA events, including the World Cup, and was intended to raise up to $4.2 billion by selling a 20% stake to private investors.

CBS News - Infantino stated, "Our purpose has always been - and will always be - to unite and improve. As a result, this proposal will not proceed."

CBS News - Infantino announced that the proposal to sell a stake in the World Cup to private investors would not proceed due to the backlash.

CBS News - The proposal aimed to create a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to manage FIFA events, including the World Cup.

CBS News - Infantino stated, "Our purpose has always been - and will always be - to unite and improve. As a result, this proposal will not proceed."

CBS News - Infantino's proposal aimed to create a $20 billion subsidiary called FIFA Forward Enterprise (FFE) to manage FIFA events, including the World Cup, and was intended to raise up to $4.2 billion by selling a 20% stake to private investors.

CBS News - Infantino stated, "Our purpose has always been - and will always be - to unite and improve. As a result, this proposal will not proceed."

CBS News - Infantino announced that the proposal to sell a stake in the World Cup to private investors would not proceed due to the backlash.

CBS News - The proposal aimed to create a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to manage FIFA events, including the World Cup.

Yahoo - UEFA's 55 member nations unanimously voted to boycott all FIFA competitions unless the proposal was withdrawn.

Yahoo - Infantino stated, "As a result, this proposal will not proceed."

Yahoo - UEFA's 55 member nations unanimously voted to boycott all FIFA competitions unless the proposal was withdrawn.

CNN - FIFA has scrapped plans to sell a stake in the World Cup to private investors.

NDTV Profit - The proposal aimed to create a $20 billion subsidiary called FIFA Forward Enterprise (FFE) to manage FIFA events.

The News International - The plan included selling a 20% stake to private investors, which would have raised approximately $4.2 billion.

Euronews - Infantino stated, "As a result, this proposal will not proceed."

WHERE:

AP - FIFA is headquartered in Zurich, Switzerland.

Yahoo - The next FIFA competition is the Women’s Under-20 World Cup, set to take place in Poland.

WHEN:

Yahoo - The deadline for FIFA's member associations to vote on the proposal was set for September 19.

Yahoo - The Women’s Under-20 World Cup is scheduled to start on September 5.

CBS News - The deadline for FIFA's member associations to vote on the proposal was set for September 19.

CBS News - The Women’s Under-20 World Cup is scheduled to start on September 5.

CBS News - The deadline for FIFA's member associations to vote on the proposal was set for September 19.

Yahoo - The deadline for FIFA's member associations to vote on the proposal was set for September 19.

Yahoo - The Women’s Under-20 World Cup is scheduled to start on September 5.

Yahoo - The deadline for FIFA's member associations to vote on the proposal was set for September 19.

The News International - FIFA had set a deadline of September 19 for member associations to vote on the proposal.

Yahoo - The Women’s Under-20 World Cup is scheduled to start on September 5.

WHY:

Yahoo - The backlash against the proposal was due to concerns that private investors would prioritize profit over the integrity of the sport.

CBS News - The backlash against the proposal was due to concerns that private investors would prioritize profit over the integrity of the sport.

Yahoo - The backlash against the proposal was due to concerns that private investors would prioritize profit over the integrity of the sport.

Yahoo - UEFA stated, "The World Cup cannot be treated as an investment product."

Yahoo - The backlash against the proposal was due to concerns that private investors would prioritize profit over the integrity of the sport.

NBC News - The decision to abandon the plan was due to widespread backlash from football federations and stakeholders.

BBC News - Infantino noted that the project had created divisions that were "no longer in the interest of the objective set out in the first place."

Yahoo - UEFA stated, "The World Cup cannot be treated as an investment product."

HOW:

Yahoo - Infantino had proposed offering $20 million to each FIFA member association that supported the proposal by the September 19 deadline.

CBS News - Infantino had proposed offering $40 million to each FIFA member association that supported the proposal by the September 19 deadline.

Yahoo - Infantino's plan involved offering $20 million to each FIFA member association that supported the proposal by the deadline.

CNN - Infantino's proposal involved creating a subsidiary to control the commercial rights to FIFA events, including the World Cup.

Yahoo - The plan was to offer $20 million to each FIFA member association that supported the proposal by the deadline.

British Prime Minister Andy Burnham emphasized the importance of the World Cup as a significant legacy of football, stating it cannot be treated as an investment product. In response to the backlash against FIFA President Infantino's proposal to create a subsidiary aimed at raising $4.2 billion through private investment, Infantino announced that the proposal would not proceed, citing the need to unite and improve the sport. FIFA's member associations have until September 19 to vote on the proposal, while the Women’s Under-20 World Cup is set to kick off on September 5.