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FIFA withdraws World Cup sale plan
The International Football Association (FIFA) canceled its plan to sell a share of World Cup revenues to private investors, following widespread criticism and internal disagreements within continental associations, especially the European Union "UEFA." FIFA had announced the creation of a $20 billion company to manage World Cup events and was planning to offer up to 20% stakes to investors. However, the negative reactions led to the abandonment of this plan. This came after the proposals sparked broad controversy over the nature of funding and developing its global tournaments.
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