Fifa president Gianni Infantino says he has scrapped the controversial plan to sell off stakes in the governing body’s major competitions, following widespread opposition.
Infantino said it had become clear the project had “created divisions” that are “no longer in the interest” of its original objective.
The Swiss added: “As a result, this proposal will not proceed.”
Infantino had offered all 211 member associations $40m (£30m) if they backed a proposal for private investment in its tournaments, including the men’s and women’s World Cups.
More to follow.