FIFA president, Gianni Infantino, has made a u-turn and cancelled plans to sell stakes in the World Cup.
This follows a lack of support from UEFA, CONCACAF, the AFC and two members of the FIFA hierarchy.
Infantino has now abandoned the proposal to sell $4.1bn in shares to private investors.
“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” Infantino’s statement read in part.
“Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed.”
He added that, “the objective to continue growing football everywhere, and particularly in those countries that mostly need our support.”