Zurich: (RightNow) FIFA has withdrawn its private investment plan for major tournaments following global opposition. The decision came after significant objections to the controversial proposal allowing private investment in events like the World Cup.

FIFA President Gianni Infantino stated that the proposal caused divisions within the football community. Offers of $40 million were made to 211 member associations. UEFA, the Asian Football Confederation, and CONCACAF opposed the proposal.

UEFA warned that it would boycott the World Cup if the plan was implemented. FIFA senior advisor Carlos Cordeiro resigned, calling the plan harmful. Chief Operating Officer Kevin Lamour said FIFA’s management was misguided.

Infantino announced plans to reconvene all stakeholders for further consultation. Pressure on him has increased ahead of next year’s FIFA presidential election.

It is noteworthy that the private investment plan has been contentious within the football community. FIFA presented it as a means to promote the sport globally.