The Prague Post - Timeline: How FIFA's World Cup private investment plan imploded

EUR -
AED 4.114065
AFN 72.259582
ALL 90.790621
AMD 404.158249
ANG 2.004979
AOA 1027.255243
ARS 1706.277137
AUD 1.605841
AWG 2.019222
AZN 1.908846
BAM 1.955598
BBD 2.254667
BDT 138.445698
BGN 1.95798
BHD 0.422456
BIF 3355.553362
BMD 1.120234
BND 1.430852
BOB 13.181638
BRL 5.562192
BSD 1.119484
BTN 106.219027
BWP 15.421407
BYN 3.28696
BYR 21956.591821
BZD 2.251367
CAD 1.568609
CDF 2594.46299
CHF 0.92428
CLF 0.028243
CLP 1105.065844
CNY 7.480981
CNH 7.472639
COP 3552.732992
CRC 510.847228
CUC 1.120234
CUP 26.866225
CVE 110.25361
CZK 24.330933
DJF 199.339408
DKK 7.473811
DOP 68.662907
DZD 150.487454
EGP 61.701626
ERN 16.803514
ETB 182.080891
FJD 2.506193
FKP 0.83772
GBP 0.83759
GEL 2.901844
GGP 0.83772
GHS 12.979659
GIP 0.83772
GMD 82.897735
GNF 9906.976581
GTQ 8.557116
GYD 234.45578
HKD 8.78527
HNL 30.053895
HRK 7.537165
HTG 146.714844
HUF 366.731529
IDR 20269.350965
ILS 3.478944
IMP 0.83772
INR 106.361208
IQD 1697.024692
IRR 2052689.282929
ISK 136.422562
JEP 0.83772
JMD 177.661647
JOD 0.79429
JPY 175.72038
KES 145.354984
KGS 97.962924
KHR 4573.527541
KMF 492.347215
KPW 1008.210806
KRW 1482.658115
KWD 0.348046
KYD 0.932904
KZT 508.267495
LAK 25190.397759
LBP 100245.344367
LKR 371.711601
LRD 190.860284
LSL 18.546684
LTL 3.307761
LVL 0.677619
LYD 7.169259
MAD 10.995664
MDL 20.205913
MGA 5062.477032
MKD 61.598637
MMK 2352.610992
MNT 4031.902629
MOP 9.043866
MRU 44.738378
MUR 52.830672
MVR 17.319246
MWK 1941.099479
MXN 20.912986
MYR 4.576498
MZN 71.587148
NAD 18.546684
NGN 1492.219693
NIO 41.195744
NOK 10.482469
NPR 169.950444
NZD 1.961367
OMR 0.429016
PAB 1.119384
PEN 3.844503
PGK 5.013482
PHP 71.267107
PKR 309.775499
PLN 4.40251
PYG 6474.331183
QAR 4.080578
RON 5.3545
RSD 117.487863
RUB 89.990404
RWF 1653.929144
SAR 4.204519
SBD 9.045421
SCR 15.663382
SDG 673.825035
SEK 11.125947
SGD 1.430432
SHP 0.837151
SLE 25.709792
SLL 23490.757589
SOS 639.733914
SRD 42.176265
STD 23186.587781
STN 24.497469
SVC 9.794988
SYP 14565.285711
SZL 18.546084
THB 37.830725
TJS 10.315634
TMT 3.932022
TND 3.342755
TOP 2.697255
TRY 55.679905
TTD 7.606214
TWD 36.503734
TZS 2963.693842
UAH 50.679165
UGX 4931.490563
USD 1.120234
UYU 44.895362
UZS 13396.616091
VES 985.569686
VND 28949.654292
VUV 132.885547
WST 3.100575
XAF 655.957
XAG 0.020782
XAU 0.000280356799
XCD 3.02749
XCG 2.017492
XDR 0.792064
XOF 655.957
XPF 119.331742
YER 264.491333
ZAR 18.566461
ZMK 10083.456786
ZMW 22.506675
ZWL 360.71498
SSP 6436.081715
MXV 2.360302
  • NGG

    -0.7800

    81.86

    -0.95%

  • VOD

    -0.3800

    15.74

    -2.41%

  • BTI

    -0.9900

    59.48

    -1.66%

  • AZN

    -1.0800

    171.49

    -0.63%

  • GSK

    -0.4600

    50.75

    -0.91%

  • RIO

    -0.7200

    83.42

    -0.86%

  • RYCEF

    -1.7500

    15.26

    -11.47%

  • BP

    1.2700

    51.32

    +2.47%

  • CMSC

    0.0000

    19.6

    0%

  • RBGPF

    2.6200

    72.77

    +3.6%

  • BCC

    -0.5500

    77.74

    -0.71%

  • BCE

    -0.4100

    20.4

    -2.01%

  • RELX

    -0.0800

    40.54

    -0.2%

  • CMSD

    0.1800

    19.78

    +0.91%

  • JRI

    0.0700

    10.75

    +0.65%

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."

C.Sramek--TPP