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Gianni Infantino Drops Shock World Cup Sale Plan Following Unprecedented Global Rebellion

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In an unprecedented turn of events that has sent shockwaves across world sports, FIFA President Gianni Infantino has officially withdrawn his deeply controversial proposal to spin off and sell a stake in the commercial operations of the FIFA World Cup. The plan, which sought to create a new commercial vehicle valued at $20 billion, collapsed late Friday after meeting a wall of fierce resistance from continental governing bodies, political leaders, and internal FIFA leadership.

The sudden retreat marks one of the most severe political setbacks of Infantino’s ten-year presidency, exposing deep fractures within football’s global hierarchy.

Inside FIFA Forward Enterprise: The $20 Billion Commercial Gamble

Unveiled earlier this week, the ambitious proposal centered on creating FIFA Forward Enterprise (FFE), a commercial subsidiary designed to house all television, sponsorship, and event operations for FIFA’s marquee competitions, including both the men’s and women’s World Cups as well as the expanded FIFA Club World Cup.

Working in partnership with investment banking giant JPMorgan, FIFA intended to sell up to a 20% non-controlling stake to private investors, raising an estimated $4.2 billion. To entice global buy-in, Infantino offered each of FIFA’s 211 member associations a immediate cash windfall of $40 million if they ratified the proposal prior to a September 19 deadline.

However, reports that an investor consortium led by New York investment firm Thrive Eternal—founded by Joshua Kushner—was slated as the anchor investor ignited severe scrutiny over political influence and financial transparency. Critics quickly pointed out the potential conflict of interest given the close ties between the Kushner family and former U.S. President Donald Trump, whom Infantino had aggressively courted in the lead-up to the 2026 World Cup in North America.

How UEFA and Continental Allies Forced FIFA’s Hand

The turning point came when European football’s governing body, UEFA, launched an aggressive counter-offensive. Representing 55 member associations, UEFA took the historic step of unanimously threatening a full boycott of all FIFA competitions—including the World Cup—should the private equity plan move forward.

“Some things are simply too important to sell,” UEFA declared in a stinging public statement. “The FIFA World Cup belongs to football. It always will. So long as Europe has a voice, it will never be for sale.”

UEFA’s decisive stand quickly galvanized opposition worldwide. Shortly thereafter, CONCACAF (representing North and Central America) and the Asian Football Confederation (AFC) formally joined the resistance. Together, the three confederations control 143 of FIFA’s 211 voting members, effectively blocking any path to procedural approval.

Internal rebellion within FIFA further dismantled Infantino’s position. Senior FIFA adviser Carlos Cordeiro resigned in protest, publicly asserting, “I cannot stand by while FIFA considers selling a stake in the World Cup.” Hours later, FIFA Chief Operating Officer Kevin Lamour publicly accused Infantino of deceiving staff and operating without transparency, calling FFE “a project of one person” that had to be stopped.

Infantino Speaks Out: Unity Over Division

Faced with an untenable rebellion and an unprecedented threat to the World Cup’s structural existence, Infantino released a formal FIFA statement backing down from the proposal.

“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 conceded. “Our purpose has always been—and will always be—to unite and improve. As a result, this proposal will not proceed.”

Infantino added that his focus over the coming weeks will shift to bringing all global stakeholders back together to find alternative, non-divisive strategies to finance football development in underfunded regions.

What Happens Next for FIFA Leadership and Football Governance?

While the immediate crisis has been averted, the fallout from the failed proposal leaves Gianni Infantino in his most vulnerable political position since taking office in 2016. With the next FIFA presidential election slated to take place in Rabat, Morocco, and the deadline for candidate nominations approaching on November 18, rival administrators are weighing potential challenges to his tenure.

Key FIFA Milestone / MetricStatus & Details
Proposed Private Capital Raised$4.2 Billion (Cancelled)
Promised Payout per Member$40 Million (Withdrawn)
Opposing ConfederationsUEFA, CONCACAF, AFC (143/211 Votes)
Next Presidential Election SiteRabat, Morocco
Candidate Nomination DeadlineNovember 18

The collapse of FIFA Forward Enterprise underscores a clear boundary drawn by the global football ecosystem: while commercial expansion remains a priority, selling equity in the game’s crown jewel to private capital remains an unacceptable line.

What was FIFA Forward Enterprise (FFE)?

FIFA Forward Enterprise (FFE) was a proposed $20 billion commercial subsidiary designed by FIFA to manage all commercial, broadcasting, and event operations for competitions like the FIFA World Cup, allowing private equity investors to buy up to a 20% stake.

Why did Gianni Infantino withdraw the World Cup sale proposal?

Infantino withdrew the proposal due to overwhelming global backlash, including a tournament boycott threat from UEFA, opposition from CONCACAF and the AFC, high-profile internal FIFA resignations, and widespread concerns over private equity control.

How much money were FIFA member nations offered to approve the deal?

FIFA offered each of its 211 member associations a one-off payment of $40 million if they voted to approve the commercial restructuring before September 19.

Which investment firms were linked to the FIFA World Cup stake proposal?

The investment proposal was managed in consultation with JPMorgan, with Thrive Eternal—a firm founded by Joshua Kushner—expected to lead the private equity investor group.

Kerala Heavy Rain: CM V.D. Satheesan Reviews Situation, Emergency Meeting Called

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Thiruvananthapuram: The Kerala Government has intensified disaster management measures as heavy rainfall continues across several parts of the state, with reports of landslides and mudslides emerging from a few districts. In response to the evolving situation, Chief Minister V.D. Satheesan held telephonic discussions with the Revenue Minister, the Chief Secretary, and district collectors to assess the impact of the ongoing monsoon.

According to the Chief Minister, the government’s immediate priority is to ensure the safety of residents in vulnerable areas while accelerating rescue and relief operations wherever necessary.

The Chief Minister announced that the Revenue Minister will coordinate all disaster management activities across the state. An emergency meeting of all district collectors has been convened at 11:00 AM to review the latest weather conditions, rescue operations, relief camp arrangements, and preparedness measures.

The government stated that the National Disaster Response Force (NDRF), Kerala Police, Fire and Rescue Services, and other emergency agencies remain fully prepared to respond to any worsening situation. District administrations have been instructed to maintain round-the-clock vigilance in landslide-prone and flood-prone regions.

Authorities have also been directed to expedite evacuation efforts wherever required and ensure that relief camps are adequately equipped with food, drinking water, medicines, and other essential facilities for affected residents.

The Chief Minister further said that the government has decided to provide the best possible medical treatment to those injured in rain-related incidents. Rehabilitation measures for affected families will also be accelerated to help them return to normal life as quickly as possible.

With forecasts indicating the possibility of continued heavy rainfall in the coming days, the government has urged the public to remain cautious, avoid unnecessary travel to hilly regions, and strictly follow advisories issued by district administrations and disaster management authorities.

The state government reaffirmed that it is closely monitoring the situation and will take all necessary measures to protect lives and minimize the impact of the ongoing monsoon.

Major Political Setback for Arya Rajendran: Bid for DYFI District Presidency Fails as V.S. Shyama Takes Charge

THIRUVANANTHAPURAM: In a major political setback for former Thiruvananthapuram Mayor Arya Rajendran, her bid to secure the post of DYFI Thiruvananthapuram District President has fallen through. Despite concerted efforts by a section of state-level leaders from both the CPI(M) and DYFI to elevate her to the district leadership, V.S. Shyama was ultimately elected as the new District President during the district conference. With this appointment, Shyama becomes the first-ever female district president of the DYFI in Thiruvananthapuram.

The latest development follows a series of political hurdles for Arya Rajendran, including criticisms surrounding administrative challenges during her mayoral tenure. Although certain state leaders advocated for her consideration based on seniority—given that she is a DYFI state secretariat member and CPI(M) district committee member—strong reservations were raised within local party and organizational circles. Critics pointed out procedural and historical factors, including her previous exit from the district committee structure.

Eventually, discussions at the DYFI district conference smoothed over the differences, leading to the unanimous approval of a panel headed by V.S. Shyama as President and L.S. Liju as Secretary. Shyama previously served as the treasurer of the outgoing committee.

Heavy Rain & Orange Alert: School and College Holiday Declared in Wayanad for Friday

​In response to worsening monsoon conditions and an active Orange Alert issued by the India Meteorological Department (IMD), the Wayanad District Collector has declared a complete holiday for educational institutions on Friday. The decision comes as heavy downpours continue to lash the high-range district, prompting local authorities to prioritize student safety amid potential flood and landslide hazards.

​The closure order covers a broad spectrum of learning centers across the district. According to the official notification, all Anganwadis, primary and secondary schools, religious study centers, private tuition classes, special classes, and professional colleges will remain closed.

​Comprehensive Closure Order: What Is Open and What Is Closed

​To ensure public safety and minimize movement during peak rainfall hours, administrative authorities have outlined strict guidelines regarding the holiday.

  • ​Institutions Granted a Holiday:
    • ​Government, aided, and private schools
    • ​Anganwadis and pre-schools
    • ​Professional colleges and technical institutions
    • ​Tuition centers, coaching institutes, and special classes
    • ​Madrasas and religious instruction centers
  • ​Key Exceptions:
    • ​Residential Schools & Colleges: Residential educational institutions where students stay on campus will function normally, provided safety protocols are strictly observed.
    • ​Scheduled University Examinations: Unless explicitly postponed by individual university boards, university-level examinations will proceed as originally scheduled. Students are advised to verify details with their respective institutions.

​Monsoon Severity Triggers Safety Protocols

​Wayanad, located in the Western Ghats region of Northern Kerala, is particularly vulnerable to flash floods, mudslides, and tree falls during heavy rainfall spells. The issuance of an Orange Alert indicates the likelihood of very heavy rainfall ranging between 115.6 mm and 204.4 mm within a 24-hour window.

​District disaster management teams have been placed on high alert to respond to emergencies. Residents living in landslide-prone hill slopes and riverbank settlements have been advised to remain vigilant and follow relocation directives from local administration officials if water levels rise.

​Travel Advisories and Public Guidelines

​With stream overflows and minor waterlogging reported in low-lying parts of Kalpetta, Vythiri, and Mananthavady, local authorities have issued precautionary advisories for tourists and daily commuters:

  • ​Avoid Non-Essential Travel: Travel through hilly terrain during night hours is strongly discouraged due to the risk of falling debris and soil slips.
  • ​Stay Away from Water Bodies: Citizens and tourists are strictly advised against visiting waterfalls, rivers, or trekking paths until weather warnings are downgraded.
  • ​Emergency Assistance: Control rooms at the Collectorate and taluk levels have been activated to assist the public in distress.

​Parents and guardians are urged to ensure children remain indoors and refrain from playing near swollen rivers, streams, or flooded fields during the holiday period.

India’s 18% Gold Tax Burden ‘Excessive’: World Gold Council Warns of Smuggling Surge and Collapsing Demand

India’s aggressive fiscal policies surrounding precious metals have come under sharp scrutiny from global experts. The World Gold Council (WGC) has publicly criticized the country’s combined tax structure on gold, labeling the total 18% levy—comprising a 15% import duty and a 3% Goods and Services Tax (GST)—as exceptionally high and damaging to the formal economy.

The international authority warned that while the tax hike was intended to curb foreign exchange outflows and stabilize the Indian Rupee, its primary side effect has been a booming parallel market. Legal gold imports and consumer demand have plummeted, while illicit smuggling channels are experiencing rapid growth as syndicates capitalize on lucrative price margins.

The 18% Tax Threshold: How Fiscal Tightening Backfired

The current tax predicament traces back to May 13, when the Central Government hiked import duties on gold from 6% to 15%. Designed to rein in the widening current account deficit, stabilize foreign exchange reserves, and defend the Indian Rupee against macroeconomic volatility, the move drastically shifted domestic market dynamics.

When paired with the existing 3% GST, official gold purchases in India now carry an effective tax burden of 18%. Sachin Jain, Chief Executive Officer of WGC’s Indian operations, highlighted that such a massive arbitrage gap virtually guarantees the expansion of illicit trade. “The arbitrage is so huge,” Jain noted. “With a 15% duty and 3% GST, there’s an 18% price differential. That almost spurs an entire shadow industry.”

Organized jewellers across the country, who strictly comply with tax standards, are facing shrinking customer footfalls and unfair competition from grey-market dealers offering un-taxed bullion.

Official Imports and Jewellery Demand Suffer Sharp Decline

The impact of the duty hike was immediately visible in official economic indicators for the April–June quarter. Total gold imports fell by 6% year-on-year to 131.4 tonnes, down from 139.7 tonnes recorded during the same period in 2025. Net gold imports witnessed an even steeper contraction of 23%, dropping to 98.1 tonnes—the lowest quarterly level observed since the height of the COVID-19 pandemic in late 2020.

However, despite falling volume, the financial cost of gold imports spiked dramatically. Owing to record-high global bullion prices, India’s gold import bill ballooned from ₹1.32 lakh crore to ₹1.98 lakh crore.

Retail jewellery demand suffered a heavy blow, plunging 15% to 75.1 tonnes during the June quarter. Market analysts attribute this decline not only to soaring retail prices but also to Prime Minister Narendra Modi’s public appeal advising citizens to avoid discretionary gold purchases to help safeguard national forex reserves.

Smuggling Metrics Point to a Rebounding Shadow Economy

The most alarming aspect of the WGC’s report is the rapid resurgence of gold smuggling. Following tax rationalization in previous years, illegal gold flows into India had dropped significantly—falling from 156.1 metric tons in 2023 to 69.2 tons in 2024, and further contracting to just 20.4 tons in 2025.

However, enforcement data reveals that the trend reversed sharply as soon as duties were restored to 15%. Indian federal agencies seized 160.91 kilograms of smuggled gold between May 13 and June 30 alone, compared to 86.16 kilograms seized between April 1 and May 12—representing a near-100% surge in contraband interdictions post-tax hike.

The World Gold Council estimates that if current market conditions persist, illicit gold inflows could easily cross 100 tonnes in 2026, depriving the national exchequer of thousands of crores in tax revenue while bankrolling underground syndicates.

Outlook: Can Festive Demand Revive the Legal Market?

Despite short-term headwinds, industry observers remain cautiously optimistic about the second half of 2026. As global prices show signs of stabilization, retail jewellers report early upticks in customer inquiries and advance bookings.

With India’s peak festive and wedding seasons approaching, traditional demand is expected to offer a buffer. Nevertheless, trade bodies continue to urge New Delhi to review the 18% tax structure, warning that without tax rationalization, the grey market will continue to erode legal trade and undermine fiscal goals.

People Also Ask)

Q1: What is the current total tax on gold imports in India?

A: India currently imposes an effective total tax of 18% on gold imports. This includes a 15% import duty (comprising basic customs duty and infrastructure cess) plus a 3% Goods and Services Tax (GST).

Q2: Why did India increase the import duty on gold to 15%?

A: The Indian government raised the import duty to curb excessive foreign gold purchases, reduce the widening trade and current account deficits, and protect foreign exchange reserves to stabilize the Indian Rupee.

Q3: How has the high gold tax affected gold smuggling in India?

A: According to the World Gold Council, the 18% price gap created by high taxes has made illegal trade highly lucrative. Gold seizures by enforcement agencies nearly doubled following the duty hike, with annual smuggling projected to cross 100 tonnes in 2026.

Q4: Did gold jewellery demand fall in India after the duty hike?

A: Yes, gold jewellery demand in India fell by 15% to 75.1 tonnes in the June quarter due to higher retail prices, increased tax burdens, and reduced discretionary buying.

Ramayana Trailer: Vivek Oberoi’s Unrecognizable Look as Vidyutjihva & High-Octane Battle with Yash’s Ravana Leave Fans Spellbound

Mumbai: Director Nitesh Tiwari’s highly anticipated cinematic saga Ramayana released its first official trailer on July 30, setting social media ablaze. Produced by Namit Malhotra, the four-minute trailer offers a grand visual spectacle showcasing Ranbir Kapoor as Lord Rama, Sai Pallavi as Sita, and Yash as the formidable demon king Ravana. However, one of the biggest surprises for eagle-eyed fans was the sudden appearance of Vivek Oberoi in a pivotal, power-packed role.

Vivek Oberoi as Vidyutjihva
​In the trailer, Vivek Oberoi makes an intense appearance as Vidyutjihva, the demon prince and husband of Shurpanakha (played by Rakul Preet Singh). Sporting heavy battle armor, headgear, a rugged beard, and a mustache, the actor is almost unrecognizable. His character plays a crucial role in exploring the dark backstory of Ravana and his ascent to power.

Clashing with Yash’s Ravana
​Social media is buzzing over a brief yet intense clash featured between Vivek’s Vidyutjihva and Yash’s Ravana. Viewers pointed out that the film appears to delve deep into mythological lore, exploring how Ravana brutally executed Vidyutjihva during his quest to conquer the realms.

Noble Gesture: Waives Remuneration for a Cause
​Adding to the excitement, Vivek Oberoi revealed that he did not accept a single rupee for his role in the magnum opus. Instead, he requested producer Namit Malhotra to donate his entire salary to support children fighting cancer.
​Speaking about his decision, Vivek stated:
​”I told Namit that I don’t want a penny for this. I want to donate it to support kids with cancer. I love what the team is doing and believe this film will place Indian cinema on the global stage with a massive impact.”
​He further emphasized that the team approached the epic as history rather than mythology.

A Stellar Ensemble
​With an all-star lineup including Sunny Deol as Lord Hanuman and Ravie Dubey as Lakshmana, Ramayana is shaping up to be one of the biggest cinematic spectacles in Indian film history.

Trapped in the Crossfire: 13 Indian Sailors Stranded on Cargo Vessel in Ukraine Amid Escalating Black Sea Attacks

NEW DELHI / KYIV — At least 13 Indian seafarers are trapped in a high-risk situation aboard a cargo vessel anchored at Ukraine’s Chornomorsk port, as ongoing drone and missile strikes destabilize the Black Sea shipping corridors.

The Forward Seamen’s Union of India (FSUI) raised the alarm, warning that the crew members are living in “constant fear of a direct hit at any moment” while heavy military action persists nearby.

Critical Situation Aboard M.V. AMIR1
​The vessel, identified as M.V. AMIR1, carries a total crew of 15, with 13 being Indian nationals. According to the maritime union, repeated aerial attacks involving drones and missiles have targeted areas in the immediate vicinity of the port facility.

​In a public statement and appeal released on social media platform X, the FSUI shared purposed video footage recorded from the vessel showing massive plumes of dark smoke billowing into the sky nearby.
​”M.V. AMIR1, currently at Ukrainian port Chornomorsk with 15 crew on board, including 13 Indian seafarers, is trapped in a terrible and life-threatening situation. Indian seafarers must not be left as sitting targets in conflict zones. Act now,” the FSUI urged in its appeal to the Indian Government, the shipping company, and international maritime authorities.

Mounting Concerns in Black Sea Shipping
​The distress call comes amid heightened danger for commercial maritime traffic operating near Ukraine’s southern coast.
​Recent Hostilities: Commercial vessels operating in the region face increased threats from drone activity and missile crossfire.
​Diplomatic Protest: Just days prior, New Delhi summoned the Ukrainian Ambassador to lodge a formal protest following an attack on the merchant ship MV Omorfi, which resulted in the death of an Indian seafarer.
​Government Intervention Sought: Maritime bodies have demanded immediate coordination between the Ministry of External Affairs (MEA), ship operators, and flag state officials to establish a safe passage corridor and secure the prompt repatriation of the crew.

As of now, official statements from the Indian Ministry of External Affairs regarding specific extraction measures for M.V. AMIR1 are awaited.

​”A Mind Beyond Expectations”: VD Satheesan Launches 17-Year-Old Autistic Author Nayan’s New Book

THIRUVANANTHAPURAM: In a deeply touching ceremony held in Thiruvananthapuram, Chief Minister V. D. Satheesan released ‘Autism in an Autistic Mind’, an extraordinary book written by 17-year-old Nayan, recognized as one of the youngest autistic authors and thinkers.

The book offers a rare, inside perspective into the mind of a person living with autism, challenging conventional societal understandings and stigmas surrounding the condition. Through his vivid writing, Nayan urges humanity to embrace nature as a mother and view the world through a lens of empathy and deeper awareness.

Sharing his thoughts on Facebook following the launch, V. D. Satheesan expressed profound emotion:
​”This young author teaches us to view nature as our mother. He completely redefines everything we thought we knew about autism, opening doors to a realm far beyond our regular imagination. And his mother—what an extraordinary woman! She stood by her son, guiding and supporting him through every word of these books. When I finished reading it, I bowed to her dedication. The whole of Kerala must read this book and ensure everyone around them reads it too.”

​Nayan, who is non-verbal, articulates his thoughts using a laptop, a communication skill taught and nurtured by his mother, Priyanka. Despite encountering numerous rejections and hurdles during his childhood school admissions, Nayan’s perseverance and unique literary talents have positioned him as an inspiring literary voice.

Major Blow to Builders: K-RERA Orders 16.65% Interest Payment to Homebuyers After 7-Year Flat Handover Delay

Thiruvananthapuram: In a landmark ruling favoring homebuyers, the Kerala Real Estate Regulatory Authority (K-RERA) has directed a capital-city-based builder to pay two buyers simple interest at 16.65% per annum for failing to deliver their apartment on time.

The order was passed against Sparrow Construction Management & Consultancy and its partner, Jahad A Majeed, following a complaint filed in 2023 by UK-based buyers Dr. Ullas Raghavan and Shakuntala Prabhakaran.

Key Details of the Ruling
​Property Value: The complainants had invested approximately ₹1.02 crore for a 1,765 sq. ft. flat in the Sparrow Paradise project located at Kudappanakunnu, Thiruvananthapuram.
​Interest Calculation: The interest will be calculated starting December 1, 2018 (the day after the promised completion date of November 30, 2018). It applies to the initial advance payment of ₹54.41 lakh and all subsequent installment payments until the physical possession of the flat is completed.
​Payment & Project Completion Timeline: K-RERA has ordered the builder to pay the full accrued interest within 60 days of the order issued on July 20. The builder has also been instructed to complete the flat and common amenities, obtain the Occupancy Certificate (OC) from the Thiruvananthapuram Corporation, and execute the sale deed within six months.

Excuses Rejected by Authority
​The builder attempted to justify the delay of over seven years by citing:
​Demonetisation
​The Kerala floods of 2018 and 2019
​COVID-19 pandemic disruptions
​Acute labor shortages

However, K-RERA firmly rejected these arguments, holding that such factors cannot be used as an umbrella excuse for an unpardonable delay of more than seven years.

Unlawful Pressure on Buyers:
The complainants alleged that while awaiting the judgment, the builder exerted pressure on them to accept possession without obtaining an Occupancy Certificate from the municipal corporation, and subsequently demanded extra charges for water and power connections. K-RERA noted that the builder applied for the Occupancy Certificate only on July 31, 2025—long after the hearing had concluded—confirming that the project remained incomplete and unfit for lawful possession.

Kerala CM V.D. Satheesan Urges Tamil Nadu Counterpart Vijay to Ease Curbs on Construction Material Transport

THIRUVANANTHAPURAM: Kerala Chief Minister V.D. Satheesan has written to Tamil Nadu Chief Minister C. Joseph Vijay, requesting a urgent reconsideration of the restrictions recently imposed on the interstate transportation of construction materials, particularly stone aggregates and metal. Satheesan highlighted that these curbs are threatening the progress of key infrastructure projects, including National Highway developments and connectivity corridors leading to the Vizhinjam International Seaport.

​Impact on Infrastructure: Kerala relies heavily on border districts of Tamil Nadu—such as Tirunelveli, Tenkasi, and Kanyakumari—for high-grade stone aggregates and crushed metal. The restrictions imposed via Tamil Nadu’s recent notification have disrupted supply chains and brought major roadwork projects near a standstill.

Special Context of Kerala: Pointing out Kerala’s limited local availability of suitable stone aggregates for large-scale engineering works, the Chief Minister urged Tamil Nadu to grant specific relaxations or set up an alternative framework for ongoing national projects.

Regional Connectivity & Federal Cooperation: Satheesan emphasized that completing these projects on time is vital not just for Kerala, but for southern regional trade, logistics, and port connectivity. He expressed confidence that a balanced mechanism can protect natural resource management while permitting essential construction logistics.
​The Kerala government hopes for a positive and speedy response from the Tamil Nadu leadership to ensure seamless interstate cooperation.