FIFA President Gianni Infantino Abandons Plans To Invite Private Investors

GENEVA (AP) — Gianni Infantino has abandoned his plans to invite investors to buy a stake in future profits from the World Cup and all FIFA events. Infantino was at risk of losing his job as FIFA president two weeks after seeming untouchable following a financial bonanza of a World Cup. Infantino’s proposal sought to create a subsidiary known as FIFA Forward Enterprise for the money-making parts of the not-for-profit soccer body’s work: Running tournaments like the World Cup, selling broadcasting and sponsorship, tickets and hospitality. Private equity and petrostate sovereign wealth money has been normalized in European club soccer yet they still seem unthinkable for many observers in the World Cup.