Real Madrid have backed FIFA‘s decision to withdraw plans to sell a minority stake in the commercial rights of the men’s and women’s World Cups, as pressure mounted on FIFA president Gianni Infantino over the controversial proposal.

The 15-time UEFA Champions League winners described the move as “good news for football” after widespread opposition forced FIFA to abandon plans to open its flagship competitions to private investors.

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Real Madrid backs FIFA U-turn

Infantino’s proposal had sought to create a new commercial entity through which FIFA would sell minority stakes in the commercial rights of its major tournaments, including the men’s and women’s World Cups.

The plan faced strong criticism from football stakeholders worldwide, as UEFA and various continental confederations contended that football’s most prestigious competitions should not be treated as investment assets.

In a statement, Real Madrid welcomed FIFA’s decision to abandon the proposal and praised the football institutions that opposed it.

“Real Madrid welcomes FIFA’s decision to abandon its proposal for the partial sale of the commercial rights to its competitions.

“Our club believes this is good news for football, its institutions, and above all, for the millions of fans of our beloved sport.”

Club praises UEFA, federations

The Spanish giants also expressed appreciation to UEFA, football confederations, national associations and other…