Dubai Telegraph - Timeline: How FIFA's World Cup private investment plan imploded

EUR -
AED 4.208494
AFN 74.4868
ALL 91.776231
AMD 418.482813
ANG 2.051665
AOA 1050.833985
ARS 1733.539393
AUD 1.613829
AWG 2.062706
AZN 1.95286
BAM 1.95572
BBD 2.323705
BDT 142.054166
BGN 1.929136
BHD 0.434975
BIF 3450.758279
BMD 1.145948
BND 1.46914
BOB 12.685479
BRL 5.90438
BSD 1.153753
BTN 110.711453
BWP 15.648357
BYN 3.503656
BYR 22460.579553
BZD 2.320405
CAD 1.603439
CDF 2647.139936
CHF 0.94645
CLF 0.027685
CLP 1093.1427
CNY 7.685186
CNH 7.688881
COP 3591.618563
CRC 516.069798
CUC 1.145948
CUP 30.36762
CVE 110.260472
CZK 24.334147
DJF 205.451562
DKK 7.475431
DOP 68.107203
DZD 153.42212
EGP 59.816175
ERN 17.189219
ETB 188.45286
FJD 2.567782
FKP 0.850221
GBP 0.856957
GEL 2.98517
GGP 0.850221
GHS 13.250456
GIP 0.850221
GMD 84.80002
GNF 10144.406325
GTQ 8.807638
GYD 241.380087
HKD 8.990031
HNL 30.965728
HRK 7.535522
HTG 150.793807
HUF 365.430214
IDR 20345.159662
ILS 3.469351
IMP 0.850221
INR 110.045391
IQD 1511.437926
IRR 1575191.38489
ISK 139.817382
JEP 0.850221
JMD 182.072522
JOD 0.812486
JPY 178.928013
KES 148.492109
KGS 100.213034
KHR 4671.808131
KMF 490.465318
KPW 1031.353507
KRW 1580.508611
KWD 0.354041
KYD 0.961461
KZT 513.018931
LAK 25827.939257
LBP 103316.356837
LKR 382.404295
LRD 200.171779
LSL 18.783529
LTL 3.383686
LVL 0.693172
LYD 7.327699
MAD 10.879653
MDL 20.115174
MGA 4988.795112
MKD 61.522473
MMK 2406.060443
MNT 4119.768939
MOP 9.322517
MRU 46.194297
MUR 54.191551
MVR 17.659477
MWK 2000.617835
MXN 19.773406
MYR 4.69667
MZN 73.229691
NAD 18.783529
NGN 1525.038568
NIO 42.458256
NOK 10.802519
NPR 177.138725
NZD 2.002865
OMR 0.440623
PAB 1.153753
PEN 3.870741
PGK 5.216695
PHP 71.952355
PKR 319.784467
PLN 4.36589
PYG 6826.719629
QAR 4.194228
RON 5.263315
RSD 117.372594
RUB 96.546081
RWF 1702.330086
SAR 4.239949
SBD 9.16817
SCR 15.924569
SDG 689.289345
SEK 11.294904
SGD 1.463318
SHP 0.855984
SLE 28.235971
SLL 24029.945947
SOS 659.37292
SRD 43.262402
STD 23718.808623
STN 24.498566
SVC 10.095585
SYP 14899.61536
SZL 18.781229
THB 38.271237
TJS 10.643163
TMT 4.010818
TND 3.377761
TOP 2.759167
TRY 55.779242
TTD 7.822679
TWD 36.55448
TZS 3031.03572
UAH 51.452587
UGX 4516.814496
USD 1.145948
UYU 46.418094
UZS 13602.441353
VES 968.847355
VND 29797.511215
VUV 135.401783
WST 3.136155
XAF 655.957
XAG 0.018079
XAU 0.000267
XCD 3.096982
XCG 2.079315
XDR 0.810245
XOF 655.957
XPF 119.331742
YER 271.188967
ZAR 18.755787
ZMK 10314.840661
ZMW 22.64207
ZWL 368.994768
SSP 6480.660452
MXV 2.242035
  • RBGPF

    0.0000

    69.99

    0%

  • CMSC

    0.1400

    20.48

    +0.68%

  • BCC

    -0.6200

    75.31

    -0.82%

  • GSK

    0.2800

    50.29

    +0.56%

  • RIO

    -1.4700

    95.79

    -1.53%

  • RYCEF

    -0.0100

    19.29

    -0.05%

  • CMSD

    0.1785

    20.29

    +0.88%

  • BTI

    -0.4300

    56.09

    -0.77%

  • NGG

    1.1000

    76.03

    +1.45%

  • BCE

    -0.4000

    22.5

    -1.78%

  • JRI

    -0.1200

    11.5

    -1.04%

  • VOD

    -0.2200

    17.46

    -1.26%

  • AZN

    1.0400

    162.89

    +0.64%

  • BP

    -1.5800

    45.38

    -3.48%

  • RELX

    0.0500

    34.27

    +0.15%

Timeline: How FIFA's World Cup private investment plan imploded
Timeline: How FIFA's World Cup private investment plan imploded / Photo: ALBERT GONZALEZ FARRAN - AFP

Timeline: How FIFA's World Cup private investment plan imploded

FIFA president Gianni Infantino has pulled the plug on the plan to allow private investment in the World Cup which had sparked a furious global backlash even among his allies.

Text size:

AFP Sport details the timeline of the dramatic few days which significantly weakened Infantino, who had been basking in the warm afterglow of a highly successful 48-team World Cup spread over three countries:

- Tuesday -

The Times newspaper breaks the story, sparking UEFA to issue a strongly-worded statement "None of us are the owners of football. It is not FIFA's to sell."

FIFA, having issued a no comment to The Times, finally breaks cover with details of the plan saying: "It would retain a majority share in FIFA Forward Enterprise (FFE)" but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests".

British Prime Minister Andy Burnham, who campaigned tirelessly for justice for the families of Hillsborough victims, was vehemently opposed to the proposal.

"The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone's to sell," he posted on X.

- Wednesday -

If Infantino had been hoping for reassurance from other confederations he was to be disappointed.

CONCACAF, Central and North American football's governing body -- which includes the three co-hosts of the World Cup, USA, Canada and Mexico -- said it was "deeply concerned" at having not been consulted.

"We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place," read their statement.

The European Union made no bones about their opposition: "Hands off our game."

The Asian Football Confederation -- one of whose members, Saudi Arabia, is to host the 2034 World Cup -- expressed their disappointment at not being informed of the plans.

Various media outlets reported Infantino had sent a letter to FIFA's member associations saying they will each receive $40 million if they back the plan -- but they must sign up by September 19.

Infantino hit back later on Wednesday in a video.

"Fans from everywhere in the world would gain immeasurably from this game-changing potential because it will transform football in their countries,"

- Thursday -

Infantino's video message nothing to calm tempers -- UEFA, whose president Aleksander Ceferin boycotted the World Cup final to show unhappiness with FIFA, had had enough.

They issued a statement saying they would boycott all FIFA competitions -- in the recent World Cup which Spain won, three of the four semi-finalists were European.

"No UEFA national teams will participate in any FIFA competition for so long as these proposals remain alive," read their statement.

Once again the European Union fell in behind the continent's governing body, praising them for "defending the integrity of the game".

Infantino took a further hit when CONCACAF'S 41 members unanimously rejected the proposal.

- Friday -

Seemingly impervious to the mounting criticism and shrugging aside UEFA's threat of a boycott, FIFA ploughed on issuing a statement that it was full steam ahead.

"Nobody is selling football," FIFA said in the statement.

"This is not something FIFA would ever entertain."

FIFA said it had heard the feedback from confederations.

"We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation," the statement said.

Instead of righting the ship the vessel took on more water hours later with the resignation of Infantino's Special Advisor Carlos Cordeiro.

The former investment banker and ex-head of the US Soccer Federation did not mince his words.

"Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally.

"It is a bad deal for FIFA's member associations, a bad deal for football, and a bad deal for the long-term future of the game," he wrote in his resignation statement.

The AFC also chipped in offering little succour to the increasingly beleaguered Infantino.

"The fact that the situation has reached the point where the real possibility of a FIFA World Cup boycott has entered public discourse should concern everyone who cares about the future of our game," said the AFC.

Burnham chipped in by saying Infantino was "the wrong man for the job".

Even South America's governing body CONMEBOL -- seen as close to Infantino -- failed to swing behind it, finally issuing a statement saying it had requested "additional information and clarifications".

- Saturday -

The white flag was raised.

"Our purpose has always been -- and will always be -- to unite and improve," Infantino said in a statement.

"As a result, this proposal will not proceed."

D.Al-Nuaimi--DT