Infantino abandons plans to sell World Cup profits to private equity following massive pushback
-
SECTIONS
TOP STORIES
- Oprah Winfrey says she will close her school for girls in South Africa next year
- White House signals Trump is weighing new strikes on Iran, and other developments in the Middle East
- Why Moroccans collectively crossed to Ceuta, in their own words
Newsletters
The Afternoon Wire
Our personalization engine sends you what you may have missed throughout the day.
The Morning Wire
Our flagship newsletter breaks down the biggest headlines of the day.
See All Newsletters
-
SECTIONS
TOP STORIES
- Authorities release early ransom note in Nancy Guthrie case, hoping someone recognizes it
- Marine Corps says F-35B stealth fighter crashed in California, pilot ejected safely
Newsletters
The Afternoon Wire
Our personalization engine sends you what you may have missed throughout the day.
See All Newsletters
AP QUIZZES
Weekly News Quiz
-
SECTIONS
TOP STORIES
- Justice Department moves to drop case against ex-Olympian charged with damaging Reflecting Pool
- Trump says anti-weaponization fund in IRS settlement is 'dead' even as he defends it
- Camp David, the president's rustic Maryland mountain retreat, through the years
Newsletters
Ground Game
Your guide to the biggest stories in politics, policy and U.S. elections.
See All Newsletters
-
SECTIONS
TOP STORIES
- Giants suspend pay to injured outfielder Harrison Bader following scooter accident
- Infantino abandons plans to sell World Cup profits to private equity following massive pushback
- Sophie Cunningham says she's not concerned about being a distraction for the Fever
Newsletters
The Sports Wire
Get AP’s in-depth sports reporting tailored to your interests.
See All Newsletters
-
SECTIONS
Newsletters
AP Entertainment Wire
AP’s entertainment, media, fashion and culture coverage, personalized to your interests.
See All Newsletters
-
SECTIONS
TOP STORIES
- FCC chairman defends actions against ABC, says broadcasters must operate 'in the public interest'
- Trump stands to profit off US policy announcements by selling fast access to his social media posts
- Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
-
SECTIONS
TOP STORIES
- A discarded SpaceX rocket is on a high-speed collision course with the moon
- August’s total solar eclipse will sweep over Spain, Iceland and Greenland
-
-
-
-
TOP STORIES
- FACT FOCUS: Migrant crossing in Spain's Ceuta breeds unsubstantiated claims
- FACT FOCUS: Trump blames Minnesota governor for cyberattacks against the state. Cites no evidence
-
TOP STORIES
- Viral phenomenon in Argentina has young people identifying themselves as animals
- Raccoon goes on drunken rampage in Virginia liquor store and passes out on bathroom floor
- Fatou, the world's oldest gorilla living in captivity, celebrates her 69th birthday at Berlin Zoo
- Chicken wings advertised as 'boneless' can have bones, Ohio Supreme Court decides
- Ghana's fantasy coffins are a colorful celebration of life and legacy
- Lettuce introduce you to the live frog found in this grocery store salad bag
-
SECTIONS
TOP STORIES
- Jetting off for a summer vacation? How to eat and drink to minimize jet lag
- Do you toss food once the date on the label has passed? Experts say that's often a waste
- Tanning is getting hot again. Here's what it really does to your skin
-
SECTIONS
TOP STORIES
- A slow shutter captures the Tour de France at full speed
- At the Kaaba during Hajj, a photographer captures sense of unity and devotion
- One frame captures a mother’s anguish during a search through a collapsed building in Venezuela
Newsletters
The World in Pictures
Get special access to AP's most compelling images from our global team of photojournalists.
See All Newsletters
-
-
SECTIONS
Indigenous peoples and climate
TOP STORIES
- Arizona, California and Nevada would share cuts under federal proposal to manage the Colorado River
- UN, scientists warn that strong El Nino will add fuel to 'a planet already on fire'
- Small changes in Hanoi’s streets can mean big disruptions for those who depend on them
-
TOP STORIES
- The Trump administration is ending a Medicare drug subsidy program. Here's how it could affect costs
- Jetting off for a summer vacation? How to eat and drink to minimize jet lag
- Do you toss food once the date on the label has passed? Experts say that's often a waste
- Senate committee advances nomination of Dr. Erica Schwartz to be Trump's CDC director
- Tanning is getting hot again. Here's what it really does to your skin
- Study suggests the threat of mold-associated illnesses may be underappreciated
-
SECTIONS
TOP STORIES
- Elon Musk's xAI sues Minnesota over its first-in-the-nation law banning 'nudification' technology
- One Tech Tip: Don't use rice for your device. Here's how to dry out your smartphone
- Jury finds Instagram and YouTube liable in a landmark social media addiction trial
-
SECTIONS
TOP STORIES
- How artists transformed a former hospital in Los Angeles to examine human emotions
- Dog trainers help pets avoid venomous snakes
- The risks of waiting too long to harvest garden vegetables
-
TOP STORIES
- A giddy Patti Smith meets fellow Chicago legend, Pope Leo XIV, and says "Hi"
- As progressives seek to take on inequality, some cite religion as a motivating factor
- Israelis worry about weakening connection with younger Jewish Americans
Newsletters
World of Faith
Comprehensive global coverage of how religion shapes our world.
See All Newsletters
-
SECTIONS
TOP STORIES
- Un niño murió y una niña está desaparecida tras caer en río crecido de Nueva Jersey
- Rescatistas recuperan 3 cuerpos de los 10 alpinistas desaparecidos en Pakistán tras una avalancha
- Venezolanos reciben con esperanza inicio de agenda de trabajo entre el gobierno y la oposición
-
-
-
-
-
-
-
- Iran war
- Español
- China
- Europe
- Africa
-
- Weather
- Abortion
- LGBTQ+
-
- Congress
-
- NFL
- MLB
- NBA
- WNBA
- Soccer
- Golf
- NHL
-
- Movies
- Fashion
- Music
- Books
-
- Tariffs
-
- Space
- Animals
- Climate
- Medicine
-
-
-
-
-
-
- Trending
- At home
-
-
-
- Indigenous peoples and climate
-
-
-
- Fashion
- Homes
- Travel
- Pets
-
-
- Deportes
-
-
-
-
-
MORE
-
- Iran war
- Español
- China
- Europe
- Africa
-
- Weather
- Abortion
- LGBTQ+
-
- Congress
-
- NFL
- MLB
- NBA
- WNBA
- Soccer
- Golf
- NHL
-
- Movies
- Fashion
- Music
- Books
-
- Tariffs
-
- Space
- Animals
- Climate
- Medicine
-
-
-
-
-
-
- Trending
- At home
-
-
-
- Indigenous peoples and climate
-
-
-
- Fashion
- Homes
- Travel
- Pets
-
-
- Deportes
-
-
-
-
-
Sign in
-
SECTIONS
TOP STORIES
- Oprah Winfrey says she will close her school for girls in South Africa next year
- White House signals Trump is weighing new strikes on Iran, and other developments in the Middle East
- Why Moroccans collectively crossed to Ceuta, in their own words
Newsletters
The Afternoon Wire
Our personalization engine sends you what you may have missed throughout the day.
The Morning Wire
Our flagship newsletter breaks down the biggest headlines of the day.
See All Newsletters
-
SECTIONS
TOP STORIES
- Authorities release early ransom note in Nancy Guthrie case, hoping someone recognizes it
- Marine Corps says F-35B stealth fighter crashed in California, pilot ejected safely
Newsletters
The Afternoon Wire
Our personalization engine sends you what you may have missed throughout the day.
See All Newsletters
AP QUIZZES
Weekly News Quiz
-
SECTIONS
TOP STORIES
- Justice Department moves to drop case against ex-Olympian charged with damaging Reflecting Pool
- Trump says anti-weaponization fund in IRS settlement is 'dead' even as he defends it
- Camp David, the president's rustic Maryland mountain retreat, through the years
Newsletters
Ground Game
Your guide to the biggest stories in politics, policy and U.S. elections.
See All Newsletters
-
SECTIONS
TOP STORIES
- Giants suspend pay to injured outfielder Harrison Bader following scooter accident
- Infantino abandons plans to sell World Cup profits to private equity following massive pushback
- Sophie Cunningham says she's not concerned about being a distraction for the Fever
Newsletters
The Sports Wire
Get AP’s in-depth sports reporting tailored to your interests.
See All Newsletters
-
SECTIONS
Newsletters
AP Entertainment Wire
AP’s entertainment, media, fashion and culture coverage, personalized to your interests.
See All Newsletters
-
SECTIONS
TOP STORIES
- FCC chairman defends actions against ABC, says broadcasters must operate 'in the public interest'
- Trump stands to profit off US policy announcements by selling fast access to his social media posts
- Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
-
SECTIONS
TOP STORIES
- A discarded SpaceX rocket is on a high-speed collision course with the moon
- August’s total solar eclipse will sweep over Spain, Iceland and Greenland
-
-
-
-
TOP STORIES
- FACT FOCUS: Migrant crossing in Spain's Ceuta breeds unsubstantiated claims
- FACT FOCUS: Trump blames Minnesota governor for cyberattacks against the state. Cites no evidence
-
TOP STORIES
- Viral phenomenon in Argentina has young people identifying themselves as animals
- Raccoon goes on drunken rampage in Virginia liquor store and passes out on bathroom floor
- Fatou, the world's oldest gorilla living in captivity, celebrates her 69th birthday at Berlin Zoo
- Chicken wings advertised as 'boneless' can have bones, Ohio Supreme Court decides
- Ghana's fantasy coffins are a colorful celebration of life and legacy
- Lettuce introduce you to the live frog found in this grocery store salad bag
-
SECTIONS
TOP STORIES
- Jetting off for a summer vacation? How to eat and drink to minimize jet lag
- Do you toss food once the date on the label has passed? Experts say that's often a waste
- Tanning is getting hot again. Here's what it really does to your skin
-
SECTIONS
TOP STORIES
- A slow shutter captures the Tour de France at full speed
- At the Kaaba during Hajj, a photographer captures sense of unity and devotion
- One frame captures a mother’s anguish during a search through a collapsed building in Venezuela
Newsletters
The World in Pictures
Get special access to AP's most compelling images from our global team of photojournalists.
See All Newsletters
-
-
SECTIONS
Indigenous peoples and climate
TOP STORIES
- Arizona, California and Nevada would share cuts under federal proposal to manage the Colorado River
- UN, scientists warn that strong El Nino will add fuel to 'a planet already on fire'
- Small changes in Hanoi’s streets can mean big disruptions for those who depend on them
-
TOP STORIES
- The Trump administration is ending a Medicare drug subsidy program. Here's how it could affect costs
- Jetting off for a summer vacation? How to eat and drink to minimize jet lag
- Do you toss food once the date on the label has passed? Experts say that's often a waste
- Senate committee advances nomination of Dr. Erica Schwartz to be Trump's CDC director
- Tanning is getting hot again. Here's what it really does to your skin
- Study suggests the threat of mold-associated illnesses may be underappreciated
-
SECTIONS
TOP STORIES
- Elon Musk's xAI sues Minnesota over its first-in-the-nation law banning 'nudification' technology
- One Tech Tip: Don't use rice for your device. Here's how to dry out your smartphone
- Jury finds Instagram and YouTube liable in a landmark social media addiction trial
-
SECTIONS
TOP STORIES
- How artists transformed a former hospital in Los Angeles to examine human emotions
- Dog trainers help pets avoid venomous snakes
- The risks of waiting too long to harvest garden vegetables
-
TOP STORIES
- A giddy Patti Smith meets fellow Chicago legend, Pope Leo XIV, and says "Hi"
- As progressives seek to take on inequality, some cite religion as a motivating factor
- Israelis worry about weakening connection with younger Jewish Americans
Newsletters
World of Faith
Comprehensive global coverage of how religion shapes our world.
See All Newsletters
-
SECTIONS
TOP STORIES
- Un niño murió y una niña está desaparecida tras caer en río crecido de Nueva Jersey
- Rescatistas recuperan 3 cuerpos de los 10 alpinistas desaparecidos en Pakistán tras una avalancha
- Venezolanos reciben con esperanza inicio de agenda de trabajo entre el gobierno y la oposición
-
-
-
-
-
-
-
- Iran war
- Español
- China
- Europe
- Africa
-
- Weather
- Abortion
- LGBTQ+
-
- Congress
-
- NFL
- MLB
- NBA
- WNBA
- Soccer
- Golf
- NHL
-
- Movies
- Fashion
- Music
- Books
-
- Tariffs
-
- Space
- Animals
- Climate
- Medicine
-
-
-
-
-
-
- Trending
- At home
-
-
-
- Indigenous peoples and climate
-
-
-
- Fashion
- Homes
- Travel
- Pets
-
-
- Deportes
-
-
-
-
-
MORE
-
- Iran war
- Español
- China
- Europe
- Africa
-
- Weather
- Abortion
- LGBTQ+
-
- Congress
-
- NFL
- MLB
- NBA
- WNBA
- Soccer
- Golf
- NHL
-
- Movies
- Fashion
- Music
- Books
-
- Tariffs
-
- Space
- Animals
- Climate
- Medicine
-
-
-
-
-
-
- Trending
- At home
-
-
-
- Indigenous peoples and climate
-
-
-
- Fashion
- Homes
- Travel
- Pets
-
-
- Deportes
-
-
-
-
-
Sign in
Infantino abandons plans to sell World Cup profits to private equity following massive pushback
Infantino abandons plans to sell World Cup profits to private equity following massive pushback
1 of 3 |
Asia Football Confederation President Salman Bin Ibrahim Al-Khalifa, left, poses with FIFA President Gianni Infantino during an inauguration ceremony for the new building of the Asia Football Confederation in Kuala Lumpur, Malaysia Tuesday, Oct. 30, 2018. (AP Photo/Vincent Thian, File)
2 of 3 |
President Donald Trump holds up a red card during a meeting with FIFA president Gianni Infantino, center, and United States Soccer Federation president Carlos Cordeiro, left, in the Oval Office of the White House, Aug. 28, 2018, in Washington. (AP Photo/Evan Vucci, File)
3 of 3 |
UEFA’s deputy general secretary Kevin Lamour, centre, looks on as he stands next to UEFA President Aleksander Ceferin, right, prior to the start of a Group F match between Turkey and Georgia at the Euro 2024 soccer tournament in Dortmund, Germany, Tuesday, June 18, 2024. K(AP Photo/Alessandra Tarantino, File)
Infantino abandons plans to sell World Cup profits to private equity following massive pushback
1 of 3 |
Asia Football Confederation President Salman Bin Ibrahim Al-Khalifa, left, poses with FIFA President Gianni Infantino during an inauguration ceremony for the new building of the Asia Football Confederation in Kuala Lumpur, Malaysia Tuesday, Oct. 30, 2018. (AP Photo/Vincent Thian, File)
1 of 3
Asia Football Confederation President Salman Bin Ibrahim Al-Khalifa, left, poses with FIFA President Gianni Infantino during an inauguration ceremony for the new building of the Asia Football Confederation in Kuala Lumpur, Malaysia Tuesday, Oct. 30, 2018. (AP Photo/Vincent Thian, File)
Share
-
-
Copy
Link copied
-
-
-
-
-
-
-
-
[Reddit](https://www.reddit.com/submit?url=https%3A%2F%2Fapnews.com%2Farticle%2Fworld-cup-infantino-fifa-investors-8aba1b529f220c27d02d326e8fd9e377%3Futm_source%3Dreddit%26utm_medium%3Dshare&title=Reddit Share)
2 of 3 |
President Donald Trump holds up a red card during a meeting with FIFA president Gianni Infantino, center, and United States Soccer Federation president Carlos Cordeiro, left, in the Oval Office of the White House, Aug. 28, 2018, in Washington. (AP Photo/Evan Vucci, File)
2 of 3
President Donald Trump holds up a red card during a meeting with FIFA president Gianni Infantino, center, and United States Soccer Federation president Carlos Cordeiro, left, in the Oval Office of the White House, Aug. 28, 2018, in Washington. (AP Photo/Evan Vucci, File)
Share
-
-
Copy
Link copied
-
-
-
-
-
-
-
-
[Reddit](https://www.reddit.com/submit?url=https%3A%2F%2Fapnews.com%2Farticle%2Fworld-cup-infantino-fifa-investors-8aba1b529f220c27d02d326e8fd9e377%3Futm_source%3Dreddit%26utm_medium%3Dshare&title=Reddit Share)
3 of 3 |
UEFA’s deputy general secretary Kevin Lamour, centre, looks on as he stands next to UEFA President Aleksander Ceferin, right, prior to the start of a Group F match between Turkey and Georgia at the Euro 2024 soccer tournament in Dortmund, Germany, Tuesday, June 18, 2024. K(AP Photo/Alessandra Tarantino, File)
3 of 3
UEFA’s deputy general secretary Kevin Lamour, centre, looks on as he stands next to UEFA President Aleksander Ceferin, right, prior to the start of a Group F match between Turkey and Georgia at the Euro 2024 soccer tournament in Dortmund, Germany, Tuesday, June 18, 2024. K(AP Photo/Alessandra Tarantino, File)
Share
-
-
Copy
Link copied
-
-
-
-
-
-
-
-
[Reddit](https://www.reddit.com/submit?url=https%3A%2F%2Fapnews.com%2Farticle%2Fworld-cup-infantino-fifa-investors-8aba1b529f220c27d02d326e8fd9e377%3Futm_source%3Dreddit%26utm_medium%3Dshare&title=Reddit Share)
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]
Share
-
-
Copy
Link copied
-
-
-
-
-
-
-
-
[Reddit](https://www.reddit.com/submit?url=https%3A%2F%2Fapnews.com%2Farticle%2Fworld-cup-infantino-fifa-investors-8aba1b529f220c27d02d326e8fd9e377%3Futm_source%3Dreddit%26utm_medium%3Dshare&title=Reddit Share)
GENEVA (AP) — FIFA President Gianni Infantino is abandoning his divisive plan to sell World Cup profits to private equity after receiving pushback from all corners of the soccer world.
Infantino’s decision came after his senior adviser who sat on a White House panel resigned and Asia’s soccer body joined Europe and North America in opposing it.
“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” Infantino said in a statement early Saturday. “Our purpose has always been — and will always be — to unite and improve. As a result, this proposal will not proceed.”
Infantino had proposed creating a $20 billion company to run the World Cup with private investors including the Kushner family, but drew backlash that grew every day since Tuesday’s announcement.
UEFA’s 55-member nations agreed to boycott the World Cup and all other FIFA competitions over Infantino’s plan on Thursday. North America’s CONCACAF and the Asian Football Confederation also said they opposed the plan.
“Some things are simply too important to sell,” UEFA said in a statement. “The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.”
Related Stories
Cape Verde star Pico Lopes gets red card in Shamrock Rovers game in Ireland
1 MIN READ
UEFA declares no confidence in Infantino and vows accountability for failed World Cup equity plan
4 MIN READ
Ijeh has 3 goals in North Carolina’s 5-0 rout of Orlando
1 MIN READ
Infantino’s senior adviser, Carlos Cordeiro, a former Goldman Sachs banker who represented the soccer body on the White House Task Force for the World Cup, resigned on Friday and urged other senior FIFA staff to speak out.
“I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro said in a statement, just hours after FIFA insisted: “Nobody is selling football.”
Hours later, FIFA chief operating officer Kevin Lamour issued a statement to The Associated Press, saying FIFA staff were deceived by Infantino’s lack of openness in planning the sale over recent months and that the project must not continue.
“It is the project of one person,” Lamour, a longtime colleague of Infantino at both FIFA and European soccer body UEFA, wrote. “Not only must this project not go ahead … but the time has now come for football political leaders to ask themselves the right questions and make the right decisions.”
Infantino has proposed spinning off FIFA’s commercial businesses — including World Cups and Club World Cups for men and women — into a $20 billion subsidiary with 20% owned by private investors.
The “anchor investor,” described by FIFA, is a New York-based investment firm created by Joshua Kushner, the younger brother of U.S. President Donald Trump’s son-in-law, Jared Kushner.
The next FIFA competition is the Women’s Under-20 World Cup starting Sept. 5 in Poland — which UEFA members said they would boycott.
The misstep could prove costly for Infantino, particularly after the interventions by Lamour and Cordeiro.
Reelected unopposed in 2019 and 2023, Infantino is allowed one more four-year term under FIFA statutes. The deadline for the next presidential contest is Nov. 18, exactly four months ahead of the vote in Rabat, Morocco, where FIFA has its African headquarters.
Infantino’s job seemed secured despite long-term unease with his style and previous attempts to force through unpopular projects, but could become more tenuous with the failed private equity proposal.
AP Sports Writer John Marshall contributed from Phoenix.
AP soccer: https://apnews.com/hub/soccer and AP World Cup coverage
Dunbar is an Associated Press sports news reporter in Geneva, Switzerland. He focuses on the governing bodies, institutions and politics of international sports.
mailto