GENEVA – In a bold move that has generated significant controversy, FIFA President Gianni Infantino has unveiled plans to create a $20 billion company aimed at managing the World Cup, with notable private investors such as the Kushner family potentially involved. This announcement, made on Tuesday, has already drawn sharp criticism from UEFA, the governing body of European soccer.
“It is not FIFA’s to sell,” UEFA stated emphatically. “None of us are the owners of football.” This sentiment underscores the widespread concern about the commercialization of soccer, which many believe should remain a sport for the people, rather than a commodity to be traded.
The proposed commercial subsidiary, known as FIFA Forward Enterprise (FFE), aims to oversee major competitions such as the World Cup and the Club World Cup. Infantino’s vision, first reported by The Times of London, suggests that FFE could raise up to $4.2 billion this year to fund essential development programs, with a projected valuation of $20 billion based on selecting long-term investors willing to purchase minority, non-controlling interests.
In an effort to realize this ambitious goal, FIFA is collaborating with J.P. Morgan, and among the intended investors is Thrive Eternal, a venture launched by Joshua Kushner, whose brother Jared Kushner has ties to former U.S. President Donald Trump. This connection raises eyebrows and fuels further concerns regarding the intertwining of politics and sport.
The recent men’s World Cup, which concluded earlier this month, solidified the already strong political ties between Infantino and Trump, leading UEFA to express apprehension about the implications of such relationships on the governance of football.
UEFA’s statement on the matter highlighted a fundamental belief: “The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially.” This criticism reflects a broader unease about the potential loss of integrity and transparency in the world of football.
Currently, FIFA operates as a Swiss-based not-for-profit association representing 211 national member federations globally. Any structural changes, such as the establishment of FFE, require the approval of these members, who would have the opportunity to access up to $20 million in one-off capital as part of the FIFA Fast-Forward Program.
Infantino characterized this initiative as a step towards the “democratization of football worldwide,” indicating that a consultation process is underway. However, UEFA has made it clear that it takes this project “extremely seriously,” urging every national Football Association to do the same.
UEFA emphasized that this move “crosses a line that football’s governing institutions should never cross,” highlighting their concern for the future of the sport.
FIFA’s announcement also included details about how much financial support each of its 211 members could receive through 2038. Instead of the previously promised $8 million each in development funds for the upcoming World Cup commercial cycle, the federation proposes to increase that amount to $20 million, followed by $22 million and $24 million in subsequent cycles.
The financial landscape is shifting dramatically, particularly after FIFA reported record income of approximately $12 billion from the recent World Cup, which benefitted from high ticket and hospitality prices across the U.S., Canada, and Mexico. Yet, uncertainty looms over whether such revenue can be replicated during the upcoming 2030 tournament, co-hosted by Spain, Portugal, and Morocco.
FIFA has assured member federations that participation in the new financial opportunities is voluntary, while still retaining sole control over FIFA Forward Enterprise and all regulatory and sporting decisions.
The integrity of FIFA has come under scrutiny throughout the World Cup, with concerns raised by coaches, national federations, and public bodies regarding the governance and ethics of the organization.
This is not the first time Infantino has attempted to engage private investors in FIFA’s operations. In 2018, he proposed a secretive $25 billion deal with SoftBank of Japan to establish new global competitions, which ultimately failed due to pushback from UEFA, who viewed it as a threat to their flagship events like the Champions League.
Despite the challenges, Infantino has forged closer ties with Saudi Arabia, which is set to host the 2034 World Cup and has significantly invested in FIFA-related projects.
Looking ahead, the financial success of the recent World Cup seems likely to secure Infantino’s re-election for a fourth term next year. He has previously remarked that a CEO delivering similar financial results could remain in position indefinitely.
Speculation is rife regarding Infantino’s future, with suggestions that a new CEO-like commissioner role within FFE could be created for him. However, FIFA has denied that such discussions have taken place, reiterating that the FIFA president and administration will play key roles in this new entity if approved.
No timetable has been set for discussions or decisions regarding the proposal, though FIFA is scheduled to hold an online congress on November 23 to confirm the hosts of the Women’s World Cup editions in 2031 and 2035.
