European soccer declares 'loss of confidence' in FIFA chief amid 'shabby' financing plan

European soccer's governing body, UEFA, has publicly declared a "loss of confidence" in FIFA President Gianni Infantino following the abandonment of his controversial plan to sell private stakes in the World Cup and other major tournaments. UEFA strongly criticized the proposed financing scheme, describing it as a "shabby, back room, opaque deal" developed through "secret schemes" and "fast track timescales" without proper consultation.

The now-withdrawn proposal aimed to establish a new commercial subsidiary, the FIFA Forward Enterprise (FFE), with a valuation of $20 billion, intending to raise significant funds through private equity investment. European football officials asserted that Infantino's actions contradicted his 2016 election promises of transparency and accountability, leading to a breakdown of trust within the global football community.

This episode has intensified pressure on Infantino as he prepares for re-election in early 2027, with other confederations, including CONCACAF, also calling for a comprehensive review of FIFA's leadership. FIFA ultimately withdrew the plan after facing widespread opposition and threats of boycotts from UEFA and other major football bodies.