On Friday, FIFA President Gianni Infantino announced the decision to cancel a controversial plan that involved selling stakes in the World Cup to private equity investors. The proposal intended to consolidate FIFA’s commercial and event operations into a new entity valued at $20 billion.

This plan met with opposition from soccer organizations in Europe, North America, and Asia. Europe’s soccer body even declared it would refrain from participating in FIFA competitions due to this proposal. In response to the criticism, FIFA initially stated that “nobody is selling football.”

Later, Infantino clarified that the intention behind the plan was to strengthen international soccer organizations rather than create divisions. He emphasized that the project had sparked divisions that no longer aligned with the original objectives, which focused on unity and improvement.

The plan, known as FIFA Forward Enterprise, led to the resignation of Carlos Cordeiro, Infantino’s senior adviser and a former Goldman Sachs banker. Cordeiro stated, “I cannot stand by while FIFA considers selling a stake in the World Cup.” The proposal would have offered each FIFA member federation a one-time payment of $20 million. However, North America’s soccer body, CONCACAF, decided against supporting it.

Infantino expressed his intention to reunite all stakeholders interested in the game. He aims to foster shared interest and ensure the ongoing growth of football, particularly in countries that require additional support.