Fifa president Gianni Infantino has scrapped plans for private investors to buy minority stakes in a company running major Fifa tournaments, including the men’s and women’s World Cups. The reversal follows widespread opposition from football’s governing bodies and deepens pressure on Infantino ahead of his planned bid for a fourth presidential term.

Fifa had offered each of its 211 member associations $40m (£30m) for supporting the proposal, with an initial $20m (£15m) tied to a 19 September deadline. Uefa, Concacaf and the Asian Football Confederation opposed the plan, potentially representing 136 votes against it, while Infantino’s adviser Carlos Cordeiro resigned and called it harmful to football’s future.