FIFA president Gianni Infantino has caved in to pressure, withdrawing his proposal to sell stakes in the World Cup.
In a statement on Friday, Mr Infantino said he would no longer continue with the proposal as was tearing the global football governing body apart.
“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,” Mr Infantino said.
He added, “Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
Mr Infantino said the FIFA Forward Enterprise project was intended to provide a basis for further strengthening the FIFA Member Associations and sport worldwide, especially in those countries where support is most needed.
He noted that more so, as it was stated from the outset, the project would proceed only if a majority of the FIFA Member Associations were in support and subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.
“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support,” Mr Infantino said.
The FIFA president had planned to sell a minority stake in FIFA World Cup to private investors, sparking reactions from stakeholders and football fans.