FIFA has abandoned a controversial plan to create a $20 billion commercial arm by selling stakes in the World Cup and other competitions to private investors, after widespread opposition from member associations and staff.
President Gianni Infantino announced the decision on Friday, saying the project had created divisions that were no longer in the interest of the objective originally set out. The plan had drawn fierce criticism from several soccer confederations since it was proposed.
The U-turn also follows an internal revolt at FIFA's Zurich headquarters. Senior executive Kevin Lamour defended his colleagues in a statement to The Associated Press, appearing to invite Infantino to fire him.
The proposal would have allowed billions of dollars in private commercial investment in the World Cup, but critics argued it was a bad deal that would turn football's flagship tournament into a commercial enterprise. FIFA now says it will not move forward with the plan.