FIFA president Gianni Infantino has officially abandoned his controversial proposal to bring private investment into the FIFA World Cup, following overwhelming opposition from football's governing bodies and political institutions.

The global governing body confirmed it will no longer pursue plans to sell a stake in a newly created commercial entity that would have managed FIFA's flagship competitions, including the FIFA World Cup. The proposal faced strong resistance from member associations across world football.

Under the original plan, FIFA hoped to raise up to $4.2 billion by selling approximately 20% of the new commercial division, valuing the business at around $20 billion. The initiative was designed to attract private capital and reshape the commercial management of the organisation's biggest tournaments.

However, the proposal quickly sparked a global backlash. Football confederations, led by UEFA, were joined by political pressure from the European Union, while official opposition from CONCACAF and the vast majority of FIFA member associations left the project with virtually no support. Reports suggest Argentina was the only national association not to oppose the idea.