FIFA drops proposal to allow private investment in major tournaments
FIFA has scrapped plans to allow private investment in its major competitions following widespread criticism from global football governing bodies.
World football governing body FIFA has abandoned plans to allow private investment in its major competitions, following widespread backlash from international football authorities. The initial proposal, introduced earlier in the week, reportedly aimed to attract billions in private capital for international events.
Facing strong opposition across the sport, FIFA President Gianni Infantino confirmed the reversal in an official statement. Infantino stated, "Our goal has always been and will always be to unite and improve," adding that "consequently, this proposal will not be pursued." The decision marks a swift retreat from the commercial initiative just days after its public presentation.
Sources: Morgunblaðið