Real Madrid has applauded FIFA’s decision to drop its contentious plan to sell shares in the economic rights of its main events, such as the FIFA World Cup.

The Spanish powerhouses called the ruling a win for football and said that millions of fans worldwide would applaud the reversal in a statement posted on the team’s official website.

The World Cup and international football should continue to be assets that belong to supporters and the larger football community, the club said, praising the continental and national football groups that resisted the plan.

International competitions, according to Real Madrid, should not be viewed as commercial assets for personal financial gain because they are public events.

“International football and the World Cup represent, above all, events of public interest, and they constitute a heritage that belongs to nations, to fans and to society as a whole, and therefore they should never be treated as mere financial assets that can be marketed to achieve gains for a limited group.”

The club also emphasised how important it is for clubs to help players grow before they play for their countries abroad.

Los Blancos contend that clubs should not be excluded from decisions pertaining to the future commercial worth of major competitions because they endure the burden and expense of developing football talent.

Real Madrid reaffirmed its opposition to any plan that aims to profit from future football earnings without taking on the risks and obligations involved.

“Any initiative aimed at seizing football’s future revenues without bearing the responsibilities that result from them is unacceptable, and it should never be proposed again in any form.”

The club stated that its stance is in line with its previous rejection of La Liga and private equity firm CVC’s investment deal, which called for selling a portion of future domestic broadcast earnings in exchange for quick finance.

Madrid expressed gratitude to the football organisations that opposed the idea and assisted in its withdrawal, although it did not mention FIFA president Gianni Infantino in the statement.