NewzWorld football governing body FIFA announced Friday in Paris that it has scrapped a plan to allow private investment in its flagship events. FIFA President Gianni Infantino stated that the proposal will no longer proceed following a fierce backlash from football officials worldwide.
The controversial plan, which would have permitted private investors to acquire stakes in major competitions such as the World Cup, had been roundly condemned across the sport. Infantino explained that the abandoned proposal ultimately did not meet FIFA's core purpose of uniting and improving football.
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