FIFA has decided not to proceed with a plan to create a $20 billion commercial arm of soccer's world governing body by selling stakes in the World Cup and other events to private investors. The proposal had faced criticism from several soccer confederations, including Europe, Asia, and the Americas. FIFA president Gianni Infantino stated that the project had created divisions and was no longer in the interest of the organization's purpose. The World Cup is not a commercial enterprise, but FIFA would allow it to be exploited by private investors, as it is not an investment product. FIFA had hoped to raise $4.2 billion by purchasing minority, non-controlling interests from long-term investors.