FIFA Abandons $20 Billion Stake Sale Amid Backlash

FIFA's initiative to sell a 20% stake in its business, aiming to raise up to $4.2 billion and valuing the new entity at $20 billion, has failed. This decision followed significant backlash from soccer officials globally and a notable division among FIFA executives.

The deal was associated with Joshua Kushner, a New York venture capitalist, whose firm was set to be involved in the transaction. Sources indicated that there was a strong reluctance among stakeholders to proceed with the deal, describing it as a "brand nightmare." FIFA President Gianni Infantino had advocated for the spin-off of FIFA's commercial rights into a new for-profit arm named FIFA Forward Enterprise.

The proposal faced intense criticism across Europe and negative media coverage, leading to its eventual collapse.