FIFA President Gianni Infantino said Friday that the plan to consolidate the organization's commercial and event operations into a new subsidiary by selling stakes in the World Cup will no longer happen.

The idea was to combine the two divisions into a single subsidiary valued at $20 billion, but the plan was opposed by the Asian, European and North American soccer bodies, with Europe vowing not to participate in the tournament if the plan moved forward, according to NBC News.

Infantino and the federation claimed the plan had not been to sell the sport, but to unite and improve it.

“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” Infantino said. “Our purpose has always been — and will always be — to unite and improve.”

Infantino said he plans to bring the sport back together in the coming days "with the objective to continue growing football everywhere, particularly in those countries that mostly need our support.”

The plan would have provided a one-time payment of $20 million to each FIFA member federation.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.