FIFA's plan to sell a piece of its business empire to outside investors has collapsed following an open revolt by soccer officials ​worldwide and a major rift among top FIFA executives, according to the New ‌York Post.

Axar.az reports, citing Reuters, that the deal, in which FIFA had aimed to raise up to $4.2 billion by selling a roughly 20% stake in the group, valuing the new arm ​at $20 billion, is no longer active, the report said, citing four sources ​familiar with the matter.

The proposal, which came out on Tuesday, was met with immediate resistance led ​by European soccer ruling body UEFA, which accused FIFA of putting the sport's "soul" up for sale.

Carlos Cordeiro , a ​senior advisor to FIFA President Gianni Infantino, quit on Friday in protest at the plan ‌and ⁠FIFA's Chief Operating Officer Kevin Lamour said staff were "deceived" by Infantino, describing the proposal as a "project of one person".

FIFA has proposed creating a $20-billion subsidiary , FIFA Forward Enterprise (FFE), to run the World Cup and its other events, but the non-profit ​insisted that "nobody is ​selling football" and ⁠the deal had been mischaracterised in the press.

Thrive Eternal, a fund run by Thrive Capital, founded by Joshua Kushner, ​was expected to lead the proposed investor group, FIFA said. ​Joshua is ⁠the brother of Jared Kushner, U.S. President Donald Trump's son-in-law.
Infantino said in a letter to all member associations that they would receive $40 million each if they ⁠agreed to ​FIFA's proposal by September 19.

FIFA said it would ​not go ahead with the plan without the support of the majority of its member associations.

It should be noted that, earlier, UEFA and its 55 member associations issued a joint statement opposing FIFA's plan to sell stakes in the commercial rights of the World Cup and other tournaments to private investors.