FIFA has abandoned a widely criticized plan to sell a stake in the World Cup’s commercial operations after worldwide outrage over a proposal tied to President Donald Trump’s inner circle.
Trump pal and FIFA president Gianni Infantino revealed earlier this week that the organization planned to sell a 21 percent stake to private investors in a newly created entity—FIFA Forward Enterprise (FFE)—to manage the commercial operations of top events, including the World Cup. He claimed FFE was worth $20 billion. The FFE investor group was reportedly set to be headed by a firm run by New York venture capitalist Joshua Kushner, younger brother of Trump’s son-in-law Jared Kushner.
But the scheme was so controversial among soccer organizations, officials, and fans that it has officially been killed, sources told the New York Post.
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