The governing body confirmed it will not proceed with the creation of the FIFA Forward Enterprise (FFE), a new commercial subsidiary that was intended to sell minority stakes to outside investors. Potential backers withdrew, with reports indicating that JP Morgan, which had been advising on the project, also stepped away.
Major Setback for Infantino
FIFA president Gianni Infantino’s controversial project aimed to raise billions by selling up to 20 per cent of a new entity valued at around $20 billion. The funds were intended to boost development programmes worldwide, but the proposal triggered fierce resistance from member associations, UEFA and other confederations.
European nations had threatened a boycott of future FIFA competitions, while internal FIFA staff and senior figures also voiced strong concerns. In a statement, FIFA said the proposal would not proceed in order to preserve unity across the global game.
The decision marks a significant reverse for Infantino’s commercial ambitions and ends one of the most contentious governance debates in recent football history.