Fifa president Gianni Infantino says he has scrapped the controversial plan to sell off stakes in the governing body’s major competitions, following widespread opposition.
Infantino said it had become clear the project had “created divisions” that are “no longer in the interest” of its original objective.
The Swiss added: “As a result, this proposal will not proceed.”
Infantino had offered all 211 member associations $40m (£30m) if they backed a proposal for private investment in its tournaments, including the men’s and women’s World Cups.
European football’s 55 member associations, Uefa, voted on Thursday to boycott World Cups if the plans went ahead.
Fifa’s chief operating officer Kevin Lamour said the governing body’s own administration had been “deceived” about the project.
Carlos Cordeiro – Infantino’s senior adviser on global strategy and governance – resigned over the mater, saying the proposal was “a bad deal for football” and would “mortgage football’s future”.
That came after two other major confederations spoke out against the plans.
Concacaf, which governs football in North, Central America and the Caribbean – and hosted this summer’s World Cup – said its members “rejected” the proposal, with sources saying the vast majority of associations from the region are losing, or have lost, faith in Infantino.
The Asian Football Confederation (AFC) said it stood in “solidarity” with Uefa and Concacaf, while UK Prime Minister Andy Burnham said Infantino was “the wrong man” to lead Fifa.
Infantino, 56, is now under immense pressure as he seeks re-election for a fourth term as president at the Fifa Congress in March.
He said he now intends to “bring all interested parties back together” in the “spirit of shared interest” in football.
More to follow.
