FIFA cancels controversial investment plan for the World Cup.

The controversial plan by FIFA to sell stakes in its major competitions has been officially canceled by president Gianni Infantino, following a wave of widespread opposition. Infantino stated that the project had “created divisions” that “are no longer in the interests” of the original goal of the proposal. “As a result, this proposal will not move forward,” he added.

The plan proposed that all 211 member associations would receive $40 million each if they supported the private investment proposal in tournaments, including the men's and women's World Cups. However, the opposition was fierce, with the 55 member associations of European football, under UEFA's aegis, voting on Thursday in favor of boycotting the World Cups if the project went ahead.

Kevin Lamour, FIFA's chief operating officer, admitted that the organization's management had been “misled” regarding the project. Carlos Cordeiro, Infantino's senior advisor on strategy and global governance, resigned, calling the proposal “a bad deal for football” that “would mortgage the future of the sport.”

Concacaf, which governs football in North America, Central America, and the Caribbean, has also expressed its opposition to the plan, stating that its members “rejected” the proposal, with sources indicating that the vast majority of associations in the region have lost or are losing faith in Infantino. In turn, the Asian Football Confederation (AFC) has expressed solidarity with UEFA and Concacaf, while UK Prime Minister Andy Burnham declared that Infantino is “the wrong man” to lead FIFA.

With pressure mounting, Infantino, who is 56 years old, is preparing for his re-election for a fourth term as president at the FIFA Congress in March. He has stated his intention to “bring together all stakeholders” in the “spirit of shared interest” in football. FIFA is now facing a critical moment, and its upcoming decisions will be crucial for its reputation and for the stability of world football.