FIFA president Gianni Infantino says he has scrapped the controversial plan to sell off stakes in the governing body’s major competitions, 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 all 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.
Shaikh Salman bin Ebrahim Al Khalifa, Asian Football Confederation (AFC) president, welcomed the withdrawal of the plan.
“The future of global football must always be shaped through proper consultation, collective dialogue and respect for the established governance structures of our game,” said Shaikh Salman.
European football’s 55 member associations, Uefa, voted on Thursday to boycott World Cups if the plans went ahead.
Fifa’s chief operating officer Kevin Lamour said the governing body’s own administration had been “deceived” about the project.
Carlos Cordeiro – Infantino’s senior adviser on global strategy and governance – resigned over the matter, saying the proposal was “a bad deal for football” and would “mortgage football’s future”.
That came after two other major confederations spoke out against the plans.
Concacaf, which governs football in North, Central America and the Caribbean – and hosted this summer’s World Cup – said its members “rejected” the proposal, with sources saying the vast majority of associations from the region are losing, or have lost, faith in Infantino.
The AFC said it stood in “solidarity” with Uefa and Concacaf, while UK Prime Minister Andy Burnham said Infantino was “the wrong man” to lead Fifa.
Infantino, 56, is now under immense pressure as he seeks re-election for a fourth term as president at the Fifa Congress in March.
He said he now intends to “bring all interested parties back together” in the “spirit of shared interest” in football.
Despite rejections from Uefa and Concacaf, Fifa initially vowed to continue with its proposals on Friday, saying “nobody is selling football”.
However, in announcing the plans had been scrapped, Infantino acknowledged he needed the backing of the majority of Fifa member associations – meaning 106 of its 211 members needed to vote in favour.
That became unlikely when the AFC joined Uefa and Concacaf in opposing the plans.
Uefa has 55 votes, Concacaf has 35 and Asia has 46.
If all member associations backed the stance of their governing body, that would have meant 136 nations voting against Infantino’s plan.
The governing bodies in Africa (CAF) and Oceania (OFC) had said they would discuss Fifa’s plan in August.
The governing body overseeing football in South America, Conmebol, said it had asked Fifa for “additional information and clarifications” regarding the “scope, structure, governance and possible effects” of the proposals.
Fifa and Infantino wanted to create a commercial subsidiary to run its main events, including its World Cups, with external investors able to buy stakes in it.
It said it would “invite third parties to make minority, non-controlling investments” in a new subsidiary – Fifa Forward Enterprise (FFE).
Infantino set a deadline of 19 September for football federations to accept his plans if they wanted to access an initial $20m (£15m).
A 25-page document created by investment bank JP Morgan laid out how Fifa’s tournaments would expand to hit an estimated increased payout of 24m euros (£20.5m) per member association in the 2035-2039 cycle.
It mentioned “new business initiatives” and “attracting top talent with incentive-driven compensation”.
The World Cup is described in it as the “most widely viewed” sporting event but Fifa, by contrast, is said to be “under-monetised”.
There was no mention in the document of the women’s game.
Fifa said Thrive Eternal was expected to lead the proposed investor group for FFE.
Thrive is an American venture capital firm founded by Joshua Kushner – the brother of US President Donald Trump’s son-in-law Jared.
Trump addressing the proposals for the first time on Friday – said he had not spoken to Infantino about the plans.
The two have developed a close relationship since Trump assumed office for a second time in 2025.