FIFA shelves plan to sell World Cup broadcast rights stake after UEFA protest

ANBAR, Iraq — FIFA has formally abandoned a plan to sell roughly a 20% stake in a new commercial unit covering its World Cup broadcast and media rights, according to the New York Post. The proposal, which targeted about $4.2 billion from investors at a unit valuation near $20 billion, had divided the organization's leadership. UEFA condemned the plan shortly after it was announced, saying the offer amounted to putting the soul of the sport up for sale. The union's 55 member federations later voted unanimously to boycott all FIFA competitions, roughly two weeks after Spain won the World Cup. Carlos Cordero, a senior adviser to FIFA President Gianni Infantino, resigned Friday in opposition to the plan. FIFA executive director Kevin Lamour told staff they had been misled by Infantino and described the proposal as the project of a single individual. No further details on FIFA's next steps were immediately available.