FIFA’s July 2026 proposal to sell a roughly 20% minority stake in a new commercial subsidiary, FIFA Forward Enterprise, for around $4.2 billion drew immediate and unified opposition from UEFA’s 55 members, other confederations, and internal advisers. The plan, which would have transferred commercial rights for the World Cup and other events while keeping FIFA in majority control, collapsed within days after boycott threats, resignations, and member-association pushback, with FIFA publicly confirming it would not proceed. Traders assign a 98.7% probability to no equity sale occurring because the specific initiative was abandoned months before the expanded 2026 tournament and no alternative structure has advanced. A late reversal remains theoretically possible if governance rules change or new investors emerge, though sustained resistance from major stakeholders makes that outcome remote.