FIFA announced a controversial plan to sell stakes in the World Cup to private investors on Tuesday, one that UEFA quickly slammed as a “line that football’s governing institutions should never cross.”
FIFA boss Gianni Infantino unveiled the FIFA Forward Enterprise (FFE), a new organization that would oversee commercial rights and operational delivery via a $20 billion company with private investors including the Kushner family. UEFA, the European governing body of soccer, immediately reacted on the news saying it “crosses a line that football’s governing institutions should never cross.”
The proposal is subject to approval by a majority of those national associations and FIFA’s 37-member council. FIFA is currently a Swiss-based not-for-profit association of its 211 national member federations worldwide. In a letter sent to the associations, which was revealed by The Athletic, FIFA president Infantino says a decision on the proposal must be made by Sept. 19 in order for any future funds to be available from Jan. 1.
Here’s what to know:
FIFA’s controversial plan
FIFA announced this plan in a release claiming immediate financial benefits across the world to “expand football development,” but the main sticking point was the creation of a subsidiary “bringing together FIFA’s commercial rights – spanning broadcast, sponsorship, ticketing, and licensing – with the operational delivery of FIFA tournaments.” FIFA added that a consultation process has begun.
The proposal would require significant private-sector investment, making it one of the most controversial elements of the plan. The Times reported that Infantino is expected to become commissioner of the new entity, potentially after securing what is anticipated to be a further term as FIFA president next year.
FIFA is seeking to raise up to $4.2 billion in capital and has approached Josh Kushner’s Thrive Capital as one of its prospective cornerstone investors, while J.P. Morgan is working with FIFA as a strategic partner on the project.
Josh Kushner is the brother of Jared Kushner, married to U.S. president Donald Trump’s daughter Ivanka. This all comes after the president of the United States admitted his involvement in the controversial red card overturn of U.S. men’s national team star striker Folarin Balogun during this summer’s FIFA World Cup.
FIFA says it would retain sole control of the organization, with “exclusive authority over football governance, competitions, the match calendar, and all regulatory and sporting decisions.”
According to FIFA, the objective is to also expand football development funding to more than $10 billion.
The proposal will be subject to approval by FIFA’s 211 member associations, which will undertake a consultation process before any decision is made. Alongside FFE, FIFA also plans to launch the FIFA Fast Forward Programme (FFFP), under which all 211 members would be eligible to access up to $20 million in one-off capital funding.
FIFA statement
While FIFA outlined the creation of the new project in an official statement, it has so far given no indication that it intends to alter the future format or frequency of the World Cup. However, there is already speculation that Infantino could revive proposals to stage the tournament every two years, an idea that was met with widespread opposition from confederations, leagues and player representatives when it was first floated several years ago.
This is the second time Infantino has tried to push through this type of deal. In 2018, Infantino proposed a secretive $25 billion offer over 12 years with SoftBank of Japan to create new global competitions, including an expanded men’s Club World Cup, seemingly backed by Saudi Arabian money. That ultimately failed after meeting fierce resistance from UEFA, which saw threats to its prize assets: the Champions League and the European Championship.
Here’s the key part of the statement:
In a similar way to other sports governing bodies with dedicated commercial subsidiaries, FIFA will invite third parties to make minority, non-controlling investments in FFE.
Any such investors would be selected against clear long-term, governance, and strategic criteria. They would represent a geographically diversified group that reflects the global nature of the game, acting as minority, long-term partners that could contribute capital and commercial expertise in support of FIFA’s mission to grow the global game. FIFA would retain sole control of FFE via majority board representation and exclusive authority over football governance, competitions, the international match calendar and all regulatory and sporting decisions.
While FIFA regularly creates subsidiaries for specific ventures unilaterally, FIFA is now engaging the MAs and the FIFA Council in this instance given its strategic importance. In keeping with the democratic processes of FIFA, the FIFA administration will launch the new structure only if a majority of the MAs decide to support it, as well as approval of the required regulatory updates by the FIFA Council.
Subject to these final agreements and required approvals, Thrive Eternal, a permanent capital holding company, is expected to lead the proposed investor group for FFE. Greg Maffei, CEO of BANN Ventures and formerly President and CEO of Liberty Media during its acquisition and ownership of Formula One, has been a key commercial adviser and will remain involved in the establishment of FFE in this next phase.
As part of this process, J.P. Morgan has been engaged to work alongside FIFA, while other advisers such as OpenEconomics are engaging with prospective long-term investors. The process is focused on assembling a geographically diversified investor group that reflects the global nature of FIFA and the game; expressions of interest to date include investors from across every major region of the world: Europe, the Americas, Asia and Africa.
The FIFA President and the FIFA administration have a duty to control the development of this project. Outside investors will have only a minority stake in FFE and will not play any operational role. Equally, they are investing in a subsidiary of FIFA, and not in FIFA itself. For FIFA, nothing changes.
The September deadline, UEFA’s strong words
According to multiple reports, Infantino has given members a 53-day deadline until Sept. 19 to back his plans to sell stakes in the World Cup or face a 75 per cent reduction in potential funding. In a letter sent to all 211 member associations by the FIFA president, Infantino has promised riches of up to $10 billion to be made accessible as early as Jan. 1, and he also offered access to as much as $40 million through his new FIFA Forward Enterprise proposal.
However, Infantino has warned any members who oppose his private investment plan will be cut out of the new funding model should it still get waived through by associations. According to Sky News, in the letter sent to the members, Infantino said: “Should neither condition be satisfied, FIFA will continue as planned with the forward program 4.0 … meaning approximately $10 million per ME [Member Association] for the next cycle,” calling it a “singular and unique funding opportunity only for those Member Associations who wish to participate, with their decision to be made by 19 September 2026 so we can plan ahead and with funds to be available immediately as of 1 January 2027.”
UEFA immediately issued a new statement on this specific matter:
“Today we have learned of FIFA’s deadline to associations to support their proposals or have the one-off payout offer withdrawn. This says everything you need to know about this plan. But having held discussions with many stakeholders across the game, UEFA knows there is significant and growing opposition to FIFA’s scheme. FIFA cannot continue to use our sport to enrich themselves and their friends. We can grow the game correctly. It’s time to prioritise associations, clubs, leagues, players and fans.”
UEFA’s original statement
The European soccer governing body immediately reacted to the news and wrote a strong statement against FIFA and Gianni Infantino. According to Sky News, European football’s governing body is expected to meet in the coming days to discuss its response, with options reportedly including a potential boycott of future FIFA competitions, such as the FIFA Club World Cup or the FIFA Women’s World Cup that will take place in the summer of 2027. Here’s the UEFA statement:
This crosses a line that football’s governing institutions should never cross. UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game. The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially.
None of us are the owners of football. It is not FIFA’s to sell.
The first nation to back Infantino
Despite most of the negative reactions, or at least not overly positive, there was also the first football association to approve the plan proposed by Infantino. David Trunda, the president of the Czechia football association, has broken ranks with UEFA and other football governing bodies, saying to SKY that he backs FIFA’s controversial World Cup commercial rights sale. Speaking to the English media outlet, he said: “Of course we need more details, but my personal point of view is that I can see the positive impact of FIFA’s intentions.”
The English FA statement
English Prime Minister Andy Burnham was the first politician to speak up on the matter and backed the UEFA statement on social media, saying the “World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell. Dress the deal up however you like. Once you have sold a piece of it, you have sold out. Football belongs to the fans. It always has, and it always will.”
On top of him, the English FA have also issued a statement with a similar tone: “We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached. Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved. When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear, and comment further.”
The CONCACAF statement
Concacaf, the Confederation of North, Central America and Caribbean Association Football, also criticised the decision and the proposal, saying they learned it from the media.
“Concacaf was only made aware of this matter through media reports and, subsequently, via a media release,” the statement read. “We are deeply concerned by the lack of due process. We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place. As leaders within football, we are the custodians of the game. Collectively, FIFA, the confederations and every member association have a responsibility to always act in the best interests of the sport. Every decision we make must be guided by good governance, robust processes and long-term stewardship. This is the framework within which Concacaf operates. We trust that all within the FIFA family will act in the same manner.”
The AFC statement
The Asian Football Confederation also issued a statement underlying the way Infantino announced his new plan.
“The AFC was not consulted on the proposal and is disappointed that a matter of such significance entered the public domain before the AFC family had been afforded the opportunity to examine and discuss it through the appropriate and established governance channels,” the statement read.
“While the AFC recognizes the importance of exploring innovative approaches that can strengthen the future of global football, initiatives of this scale and consequence must be founded upon the principles of good governance, transparency and meaningful consultation. Decisions that may reshape the commercial and financial future of the game require comprehensive prior engagement with Confederations, Member Associations and other relevant stakeholders before any proposal is made to the appropriate decision-making [bodies]. The AFC firmly believes that all stakeholders should be provided with sufficient information and adequate time to assess the proposal in full, including its governance, legal, commercial and strategic implications. Such a process is essential to ensuring that any decision reflects the collective interests of the global football community and reinforces confidence in FIFA’s governance framework. As one of global football’s six Confederations, the AFC remains committed to the continued growth of world football.”
