The New York Post reported on Friday that FIFA's plan to sell a stake in its commercial empire to outside investors has collapsed following a public revolt by football officials worldwide and a major rift among senior FIFA executives.
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Citing four sources familiar with the matter, the newspaper noted that the deal—through which FIFA aimed to raise up to $4.2 billion by selling an approximate 20 percent stake in the group, valuing the new entity at around $20 billion—is no longer active.
The agency could not immediately verify the report independently, and FIFA did not immediately respond to a request for comment.
The proposal, which was unveiled last Tuesday, met immediate resistance led by the Union of European Football Associations (UEFA), which accused FIFA of "putting the soul" of the sport up for sale.
On Thursday, UEFA's 55 member nations voted unanimously to boycott all FIFA competitions, coming less than two weeks after the Spanish men's national team was crowned world champion.
Carlos Cordeiro, a senior advisor to FIFA President Gianni Infantino, resigned on Friday in protest of the plan, while FIFA Chief Operating Officer Kévin Lamour stated that staff were "deceived" by Infantino, describing the proposal as a "one-man project."
Reuters
