Zurich, Aug. 1 (V7N) – FIFA President Gianni Infantino has announced that plans to sell a stake in the world football governing body's new commercial venture to private investors have been scrapped following widespread controversy.
According to a report by Sky News on Saturday (Aug. 1), Infantino said the proposal would not move forward because it had become too divisive.
"The proposal will not move forward. The initiative has become so controversial that it is no longer possible to continue. It has become clear that the project has created division," Infantino was quoted as saying.
He added that FIFA's priority remains the development of football around the world.
"Our goal is to improve football. FIFA's objectives remain unchanged," he said.
Infantino also stressed the need to restore unity among football stakeholders.
"My aim is to bring everyone together and continue promoting football everywhere, especially in countries that need our support the most," he said.
According to the report, the abandoned proposal involved selling more than 20 percent of the shares in FIFA Forward Enterprise, a newly established commercial subsidiary valued at approximately $20 billion, to private investors.
The 56-year-old FIFA president has maintained a close relationship with US President Donald Trump during this year's FIFA World Cup and has sought to strengthen ties with the US administration. According to the report, those efforts included awarding Trump FIFA's inaugural Peace Prize in December.
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