Fifa scraps controversial World Cup investment plan

BBC:

Fifa president Gianni Infantino says he has scrapped the controversial plan to sell off stakes in the governing body’s competitions to private investors 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 official added: “As a result, this proposal will not proceed.”

Infantino had offered Fifa’s 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.

However, Uefa – which governs European football – responded by voting to boycott World Cups if the plans went ahead, and other governing bodies also voiced their opposition.