Gianni Infantino says Fifa has scrapped World Cup investment plan

Fifa “will not proceed” with plans to sell stakes in a company which would run the commercial and operational aspects of its competitions, a statement from president Gianni Infantino said.

The plan, which would include the men’s and women’s World Cups, has been rejected by three continental confederations with Uefa insisting its nations would boycott Fifa events.

In a statement released early on Saturday, Infantino said: “The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed.

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“And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.

“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place.

“Our purpose has always been – and will always be – to unite and improve.

“As a result, this proposal will not proceed.

“Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support.”

The plans led to the resignation of Infantino’s senior adviser Carlos Cordeiro, while another senior Fifa official, chief operating officer Kevin Lamour, released a statement to