The project to sell a stake in FIFA’s commercial operations to private investors has been abandoned, President Gianni Infantino said in a statement. "The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed. Earlier, the proposal was rejected by the Union of European Football Associations (UEFA), the Confederation of North, Central America and Caribbean Association Football (CONCACAF), the Asian Football Confederation (AFC), and the South American Football Confederation (CONMEBOL). The plan envisaged the creation of a commercial subsidiary, FIFA Forward Enterprise, which would control major FIFA men’s and women’s competitions. Infantino argued that the move would increase revenues for FIFA member associations and support the development of football worldwide.