00:00FIFA President Gianni Infantino said on Saturday that he has scrapped a plan to allow private
00:06investment in the World Cup following fierce backlash from football officials worldwide.
00:12In a statement, Infantino said the project had created divisions that were quote, no
00:17longer in the interest of the objective set out.
00:20The plan was to let outside investors take minority stakes in a new subsidiary running
00:26FIFA's commercial operations, including the World Cup.
00:30Infantino said the venture could have raised nearly 20 billion euros, but the idea triggered
00:36an outcry, with UEFA threatening to boycott FIFA competitions altogether, insisting the
00:42World Cup quote, cannot be treated as an investment product.
00:46The controversy has piled pressure on Infantino, already under fire over the running of this
00:51year's World Cup and led to the resignation of a senior advisor.
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