Why FIFA's $20 billion World Cup stake sale plan collapsed amid global backlash
FIFA's plan to sell a 20% stake in a new commercial entity, FIFA Forward Enterprise (FFE), for $4.2 billion, valuing it at $20 billion, has collapsed.
UEFA's 55 member associations unanimously voted to boycott FIFA competitions in response to the proposal.
Carlos Cordeiro, senior adviser to FIFA President Gianni Infantino, resigned in protest; COO Kevin Lamour said staff were 'deceived' and called the proposal 'a project of one person'.
FIFA proposed creating FFE to oversee the World Cup and other competitions, but claimed 'nobody is selling football' and that the proposal was misrepresented.
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