Fifa president Gianni Infantino has scrapped a controversial plan to sell off stakes in the governing body's major competitions, a major U-turn following widespread opposition.
The plan, which offered all 211 member associations $40m (£30m) if they backed private investment in tournaments including the men's and women's World Cups, had been met with fierce resistance from European football's 55 member associations, Uefa, which voted to boycott World Cups if the plans went ahead.
Fifa's chief operating officer Kevin Lamour said the governing body's own administration had been "deceived" about the project, while Carlos Cordeiro, Infantino's senior adviser on global strategy and governance, resigned over the matter, calling the proposal "a bad deal for football" that would "mortgage football's future".
The Asian Football Confederation (AFC) and Concacaf, which governs football in North, Central America and the Caribbean, had also spoken out against the plans, with the latter's members "rejecting" the proposal.
UK Prime Minister Andy Burnham added his voice to the opposition, saying Infantino was "the wrong man" to lead Fifa.
Infantino, 56, is now under immense pressure as he seeks re-election for a fourth term as president at the Fifa Congress in March.
In a statement, Infantino said he had scrapped the plan because it had "created divisions" that were "no longer in the interest" of its original objective.
He added: "As a result, this proposal will not proceed."
Infantino had initially vowed to continue with the proposals on Friday, saying "nobody is selling football", but the plan's rejection by Uefa and Concacaf, and the subsequent opposition from the AFC, made it unlikely to gain the necessary backing.
That became clear when the AFC joined Uefa and Concacaf in opposing the plans, leaving Fifa's governing body facing a significant loss of support.
The governing bodies in Africa (CAF) and Oceania (OFC) had said they would discuss Fifa's plan in August, but the latest development has likely put those discussions on hold.
Conmebol, the governing body overseeing football in South America, had also asked Fifa for "additional information and clarifications" regarding the proposals.
The move is a significant blow to Infantino's leadership, with many questioning his ability to lead the governing body.
The next step will be to see how Infantino responds to the backlash and whether he can regain the trust of Fifa's member associations.
Source: BBC Sports