New Delhi, Aug. 4 -- In the end, Gianni Infantino blinked. In the face of an extraordinary backlash, the Federation Internationale de Football Association (Fifa) has abandoned its plan to sell a minority stake in the commercial rights of the World Cup through a new company, Fifa Forward Enterprise.

What was presented only days ago as a bold financial vision has collapsed under widespread opposition from across the football world. Football has won, but only this round. The proposal has been shelved; the questions it raised, however, hover over the game.

Nearly a century ago, Jules Rimet had something else in mind for football. Europe was recovering from a devastating war and drifting towards another. Rimet believed that if nations could ...