FIFA has abandoned a proposal to bring private investment into commercial operations associated with the World Cup and Club World Cup.
FIFA President Gianni Infantino said the proposal would not proceed after consultation showed it had created division inconsistent with FIFA's stated aim of uniting and developing football.
FIFA had announced the plan earlier in the week through a proposed commercial subsidiary named FIFA Forward Enterprise.
The entity was intended to manage major FIFA competitions, including the World Cup and Club World Cup.
FIFA had put the venture's value at about $20 billion and planned to raise roughly $4.2 billion by selling shares to private investors.
FIFA said the plan could have provided each of its 211 member associations with a one-time $20 million payment in early 2027.
It also said development funding for the 2027-30 period could have risen from $8 million to $20 million.
UEFA said its member national teams would not take part in FIFA competitions while the proposal remained in force.
UEFA argued that the World Cup should not be treated as a commercial investment product or transferred in any part to private investors.
AFC and Concacaf also opposed the initiative, while AFC warned that a World Cup boycott had become a subject of public discussion.
CONMEBOL President Alejandro Dominguez sought further detail on the project's scope, structure, governance and potential effects.
Infantino said FIFA would focus on bringing football stakeholders back together and supporting countries that need greater assistance for football development.