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FIFA drops its plan to sell a World Cup stake; UEFA says Infantino has lost its confidence

FIFA has dropped its plan to sell part of the World Cup to private investors. Gianni Infantino said late on Friday that the proposal “will not proceed”, after UEFA voted on Thursday to boycott FIFA competitions unless it was withdrawn. Al Jazeera reported that FIFA wanted to raise up to $4.2bn by selling about 20 percent of a new unit running the World Cup and other events, valuing it at $20bn. The investor group was expected to be led by Thrive Capital, founded by Joshua Kushner.

The Guardian said the plan had “sensationally collapsed”. Infantino's senior adviser Carlos Cordeiro resigned, calling it “a bad deal for football”, and chief operating officer Kevin Lamour said staff had been “deceived”. Britain's prime minister, Andy Burnham, called Infantino the wrong man to lead FIFA.

India's Onmanorama explained why the plan could not pass: UEFA, CONCACAF and the AFC together hold 143 of FIFA's 211 member associations. It also reported that Infantino had offered $40m to each member that approved the plan by 19 September.

On Saturday UEFA welcomed the U-turn but said FIFA's leadership had lost its confidence.

“The task of rebuilding trust in FIFA has only just begun.” — UEFA statement, via Al Jazeera

How each outlet framed it

• Al Jazeera — the money, the Kushner link and UEFA's Saturday statement.
• The Guardian — a dramatic climbdown and pressure on Infantino's job.
• Onmanorama — the vote count that made the plan impossible.

What we don't know yet: whether Infantino survives. The FIFA election is set for 18 March, and candidates have until 18 November to stand, Al Jazeera reported.