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A row that threatened to become the big talking point as fans returned to the terraces has ended with the the Fifa president admitting he scored an own goal.<\/p>\n
Gianni Infantino, president of FIFA has abandoned his heavily-criticised proposal to bring private investors into the organisation and left his own future in doubt.<\/p>\n
\u201cHaving 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,\u201d Infantino said in a statement.<\/p>\n
\u201cOur purpose has always been \u2013 and will always be \u2013 to unite and improve. As a result, this proposal will not proceed.<\/p>\n
\u201cMoving 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, and particularly in those countries that mostly need our support.\u201d<\/p>\n
Infantino was swayed by the overwhelming opposition to his plan from the world football family. His decision came after he remained defiant until the early hours of Friday that he would put his plan to sell a stake of Fifa tournaments to private investors out to consultation.<\/p>\n
However, it was obvious to all that the scheme was a non-starter and now Infantino\u2019s supporters are fleeing. Carlos Cordeiro, the former investment banker who was his senior adviser for much of the 2026 World Cup, resigned with a damning statement that left no doubt over the divisions now engulfing FIFA.<\/p>\n
Cordeiro, an American and ex-vice chairman at Goldman Sachs, said: \u201cAs a senior adviser to the Fifa president, a former banker, and a lifelong football fan, I cannot stand by while Fifa considers selling a stake in the World Cup.<\/p>\n
\u201cLet me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for Fifa\u2019s member associations, a bad deal for football, and a bad deal for the long-term future of the game.<\/p>\n
\u201cAfter more than 35 years in banking, I understand both the value of this asset and the consequences of giving part of it away. That is why this proposal should be rejected.\u201d<\/p>\n
He pointed out that Fifa already has access to \u201cextraordinary financial resources\u201d. The organisation sits on billions of dollars in reserves and no debt. The Fifa president himself has highlighted the $15?billion [about \u00a311.13billion] in revenue generated between 2022 and 2026.<\/p>\n
\u201cIf member associations believe additional investment is needed to develop the game, Fifa already has the financial capacity to provide that support from its existing resources,\u201d said Cordeiro.<\/p>\n
\u201cAgainst that backdrop, selling a permanent stake in football\u2019s most valuable asset to raise $4.2billion makes little sense. It is mortgaging football\u2019s future without any compelling justification, adding that the proposal had become \u201ca defining question for Fifa\u2019s future.\u201d<\/p>\n
Fifa\u2019s chief operating officer, Kevin Lamour, also turned on the president and the proposal which he decscribed as \u201cthe project of one person\u201d who had kept everyone in the dark about it.<\/p>\n
\u201cThe ball is now in the court of those who have the power to change things,\u201d he said. <\/p>\n
There was little doubt that his finger was being pointed at the man at the centre of the dispute who had already caused anger over his deferential relationship with Donald Trump.<\/p>\n
The president, who Infantino had awarded a \u201cpeace\u201d prize, intervened in a red card shown to a US player. The card was overturned, amid accusations that the game was being disrupted by unwanted external actors.<\/p>\n
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