FIFA Abandons Plans for World Cup Stake Sale Amid Backlash

FIFA has decided to withdraw its proposal to sell a minority stake in the World Cup after facing intense backlash, including threats of boycotts and calls for the resignation of its president, Gianni Infantino.

The investment plan, led by Joshua Kushner's Thrive Eternal, aimed to capitalize on the World Cup as a valuable asset amidst concerns about the impact of AI on sports. Thrive Eternal, a branch of Thrive Capital, focuses on investing in sectors that technology cannot replicate, viewing sports as a resilient investment.

Despite the cancellation of the proposal, discussions about external investments in football continue, reflecting a broader trend of financial involvement from private equity in the sport. Critics argue that FIFA does not require external funding, given its existing revenue streams and the anticipated financial success of future tournaments.