FIFA cancels proposal to sell minority stake amid criticism

FIFA has decided to abandon its proposal to sell a minority stake of its organization. The announcement was made on July 31, following backlash from CONCACAF and UEFA, who expressed strong disapproval of the idea. FIFA president Gianni Infantino stated that the proposal had created divisions that no longer aligned with the federation's objectives to unite and improve football. FIFA had aimed to raise $4.2 billion through this initiative, which intended to manage various lucrative enterprises, including the World Cup. Moving forward, FIFA plans to engage with all stakeholders to build consensus on future initiatives.

• 12:19 AMYahoo Sports — FIFA scraps highly-criticized proposal to sell minority stake