FIFA wants to create a $20 billion World Cup subsidiary and sell a 20% stake to private investors
Member associations would get $20 million if they approve the plan, or $10 million under the existing funding model
UEFA and other football bodies oppose the proposal, citing poor consultation and fears of increased commercialization of the World Cup
FIFA president Gianni Infantino has triggered a major governance controversy in world football after giving the organization’s 211 member associations until September 19 to approve a proposal that would allow private investors to acquire a stake in the commercial operations of the FIFA World Cup.
The plan centers on the creation of a new subsidiary called FIFA Forward Enterprise (FFE), which would manage FIFA’s major competitions, including the men’s and women’s World Cups and the Club World Cup.
FIFA is proposing that 20% of the new company be sold to private investors, with the entity reportedly valued at around $20 billion.
In a letter sent to member associations, Infantino described the proposal as a “singular and unique funding opportunity” and linked it directly to increased financial support for FIFA’s members.
The proposal has already drawn strong opposition from UEFA and criticism from other continental football bodies, making it one of the most significant disputes of Infantino’s presidency.
What Is FIFA Offering To Its Member Associations?
The key attraction of the proposal is financial. FIFA has told its member associations that approval of the new subsidiary would unlock a one-time payment of $20 million for each association from the commercial cycle tied to the 2030 FIFA World Cup.
If the proposal is rejected, associations would continue to receive the previously promised $10 million in FIFA development funding over the next four years.
For many smaller football associations that rely heavily on FIFA grants for infrastructure, coaching programs, and national-team operations, the additional funding could be substantial.
The investment process would be led by JP Morgan, while Thrive Capital, the investment firm founded by Joshua Kushner, has emerged as the proposed anchor investor.
Kushner’s involvement has attracted significant attention because of his family’s connection to former U.S. President Donald Trump through his brother Jared Kushner, Trump’s son-in-law and former senior adviser.
Although Joshua Kushner has previously donated to Democratic candidates and his wife Karlie Kloss has publicly distanced herself from Trump, the proposed 12-year investment relationship has added a political dimension to an already contentious commercial proposal.
Why Are UEFA And Other Football Bodies Opposing The Plan?
UEFA has reacted most aggressively to the proposal, arguing that the World Cup is not FIFA’s to sell. The European governing body believes that introducing private investors into FIFA’s commercial structure could fundamentally alter the incentives surrounding international football.
European officials fear that outside investors would expect sustained revenue growth, which could encourage FIFA to expand tournaments, increase the number of participating teams, add more commercial inventory, and potentially stage major competitions more frequently.
UEFA is also concerned that a FIFA-controlled commercial company could threaten the value of its own competitions, particularly the UEFA Champions League and the European Championship.
The opposition is not limited to Europe. CONCACAF has expressed concern about the lack of due process surrounding the proposal, while the Asian Football Confederation has criticized the fact that the plan became public before its member associations had an opportunity to examine it internally.
European clubs have also raised concerns. The European Club Association (ECA) said it learned about the proposal through media reports rather than through formal consultation, reinforcing complaints that FIFA’s leadership is moving ahead without adequately involving key stakeholders.
What Could This Mean For The Future Of The World Cup?
The controversy goes beyond a one-time payment to FIFA’s member associations. At its core is a broader question about who should control the commercial future of the World Cup and how far FIFA should go in monetizing its flagship tournament.
Critics argue that bringing in private investors could increase pressure to maximize commercial returns through larger tournaments, additional sponsorship opportunities, dynamic ticket pricing, and a more entertainment-driven presentation of FIFA events.
Supporters of the proposal, however, contend that outside investment could generate unprecedented resources for football development around the world and provide long-term financial stability for FIFA and its members.
The outcome may ultimately depend on FIFA’s one-member, one-vote system.
Smaller associations that depend heavily on FIFA funding have the same voting power as football’s traditional powers, meaning UEFA’s opposition may not be enough to block the proposal if a majority of member associations decide that the financial benefits outweigh the governance concerns.
With the September 19 deadline approaching, FIFA’s members are being asked to decide whether the promise of increased funding justifies a significant change in the ownership structure of world football’s most valuable competitions.
The vote could shape not only the future commercial model of the World Cup, but also the balance of power between FIFA, UEFA, continental confederations, and elite clubs for years to come.
