FIFA halts World Cup rights sale after pressure
The New York Post reported that FIFA's plan to sell a stake in its commercial empire to external investors—aimed at raising $4.2 billion for approximately 20% of a new commercial division—has collapsed after widespread resistance and protests from football officials around the world. The plan faced opposition from UEFA, which described it as selling the soul of the game, and the member associations of UEFA agreed to boycott all FIFA tournaments, leading to the resignation of FIFA’s chief advisor and criticism within the organization itself. The plan involved establishing a new company to manage the rights to the World Cup and other tournaments, but it was met with rejection and concerns over the future control and market value of these tournaments, estimated at around $20 billion. FIFA has stated it will not proceed without majority support.
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