According to the plan, FIFA will set up FIFA Forward Enterprise (FFE) to manage “commercial and event operations.”
Following the recent record-breaking 48-team World Cup held in the U.S., Canada, and Mexico, FIFA would maintain control of the enterprise but will provide minority stakes to private investors to generate up to $4.2 billion.
A vehicle founded by Joshua Kushner, brother of Jared Kushner—son-in-law to U.S. President Donald Trump—is expected to head the proposed investor group, as stated by FIFA.
This proposal intensifies the rift between Switzerland-based FIFA and European soccer’s governing body UEFA, with Europe framing itself as the protector of the sport, in contrast to FIFA’s focus on expanding financial access.
As one of the richest sporting organizations globally, FIFA generates billions in revenue through broadcasting rights, sponsorships, and other commercial agreements tied to the World Cup.
However, FIFA insists that this proposal could enhance funding for broader access to the sport and boost global participation, with all net gains reinvested into football.
“Football is the world’s most beloved sport and a powerful catalyst for human and social development,” FIFA President Gianni Infantino stated.
“Certain aspects of the game have transformed that popularity into significant commercial value, and we champion that success and wish for it to continue, as it benefits the entire sport.
“Our mission is to ensure that the rest of football evolves alongside it: FIFA exists to promote sustainable, inclusive development globally.”
FIFA asserted it would retain exclusive control over the subsidiary and “exclusive authority” concerning football governance, competitions, the match calendar, and all regulatory and sporting decisions.
STRONG OPPOSITION FROM UEFA AND OTHERS
The proposal faced intense criticism from UEFA, which argued that it “crosses a line that football’s governing bodies should never cross.”
“UEFA takes this matter very seriously,” it stated. “So should every National Football Association, as well as all stakeholders: leagues, clubs, players, fans, governments, and anyone invested in the future of football.
“The soul and governance of football cannot be treated as assets to trade, especially without transparency regarding financial beneficiaries. None of us own football; it is not for FIFA to sell.”
Relations between UEFA and FIFA have soured in recent years, and UEFA President Aleksander Ceferin refused to attend the World Cup final due to ongoing disputes over disciplinary protocols, refereeing logistics, and match operations.
A spokesperson for FIFA indicated that the proposal will soon be submitted to the 211 member associations and the FIFA Council, which will be the final authority on the matter.
Funds raised through this initiative will be directed toward an optional program, allowing member associations to access up to $20 million for investments in infrastructure, coaching, national teams, competitions, grassroots football, and women’s initiatives.
That figure is projected to increase to $24 million by the 2035-2038 cycle.
Infantino, who is seeking reelection as FIFA head next year, emphasized that every member association should have the chance to acquire its fair share of funding to shape its future.
“This is about democratizing football on a global scale,” he explained.
British Prime Minister Andy Burnham also criticized the proposal on social media, stating that the sport is not owned by investors.
“The World Cup is not a mere product. It represents the pinnacle of global competition, and it has never been anyone’s to sell,” Burnham wrote on X. “You can frame the deal however you like. Once you sell a piece of it, you have compromised its integrity.”
Richard Sheehan, a finance professor at the University of Notre Dame specializing in sports economics, labeled the proposal a “money grab” by the current FIFA leadership.
“From the perspective of a not-for-profit entity, supposedly raising capital to make soccer accessible to all, this move is absurd,” Sheehan remarked.
EXTERNAL INVESTORS
FIFA is collaborating with JPMorgan to attract external investors, stating that former Liberty Media CEO Greg Maffei is serving as a commercial advisor.
A new investment initiative called Thrive Eternal, launched by Joshua Kushner’s Thrive Capital, is set to take the lead in the investor group.
This permanent capital vehicle focuses on making a limited number of long-term investments in franchises and cultural organizations, including a recent minority stake in Major League Baseball’s San Francisco Giants. Former Walt Disney CEO Bob Iger is also an advisor.
Jared Kushner is not among the potential investors, according to sources.
JP Morgan and Joshua Kushner did not provide comments. Maffei has not yet responded to requests for comment.
“External investors will hold only a minority stake in FFE and will not participate in operational roles,” FIFA clarified. “They are investing in a subsidiary of FIFA, not in FIFA itself. For FIFA, nothing alters.”
