‌🔻Gianni Infantino, the president of FIFA, has announced that the controversial plan to transfer part of the shares of the federation’s important competitions to private investors has been shelved following widespread opposition.

Mr. Infantino said that it has become clear that the plan “creates a rift” and is no longer in line with its original goal. He added: “As a result, this proposal will not proceed.”

The FIFA president had previously offered each of the 211 member federations that, if they supported the entry of private investors into FIFA competitions, including the men’s and women’s World Cups, they would receive 40 million dollars.

On Thursday, 55 UEFA member federations voted to boycott the World Cups if this plan were implemented.

Kevin Lamour, FIFA’s operations director, also said that even the officials of the organization have been “misled” about this project.

Carlos Cordeiro, Infantino’s senior adviser on global strategy and governance, resigned in protest against the plan and called it a “bad deal for football,” which, according to him, “puts the future of football at stake.”