Key facts
- UEFA is reportedly furious with FIFA President Gianni Infantino's plan to sell shares in a World Cup spin-off venture.
- FIFA plans to create a $20 billion company, FIFA Forward Enterprise (FFE), to manage World Cup commercial rights.
- The initiative aims to raise up to $4.2 billion by selling minority, non-controlling stakes to long-term investors.
- Investors include Thrive Eternal, launched by Joshua Kushner.
- UEFA stated that 'the soul and governance of football are not assets to trade.'
- FIFA members could receive up to $20 million each in one-off capital if the plan is approved.
UEFA has expressed strong disapproval of FIFA President Gianni Infantino's proposal to sell stakes in a new commercial subsidiary, FIFA Forward Enterprise (FFE), which would manage the commercial rights of the World Cup and other FIFA competitions. The plan, announced on Tuesday, aims to raise up to $4.2 billion by selling minority, non-controlling interests in a venture initially valued at $20 billion. Investors being considered include Thrive Eternal, launched by Joshua Kushner.
UEFA described the move as crossing a line, stating that "the soul and governance of football are not assets to trade," particularly with a lack of transparency regarding financial beneficiaries. The European football body also indicated that European nations are discussing a potential World Cup boycott in response to the proposal. FIFA, a not-for-profit association, stated that its 211 member federations must approve the plan and would have the opportunity to access up to $20 million in one-off capital.
Infantino framed the initiative as a move towards the "democratisation of football worldwide" and stated that a consultation process has begun. This is the second time Infantino has attempted to privatize football assets; a previous proposal in 2018 involving a $25 billion deal with Japan's SoftBank for new global competitions, reportedly backed by Saudi Arabian investment, failed after facing significant opposition from UEFA, which viewed it as a threat to its own major tournaments.
The 2026 World Cup, hosted across the US, Canada, and Mexico, generated approximately $12 billion in income for FIFA. The financial success of this tournament is seen as likely to ensure Infantino's unopposed re-election for a fourth term. Speculation exists that Infantino might seek a role within the new FFE entity, though FIFA stated this has not been discussed, while acknowledging the FIFA president and administration would likely hold leading roles if the venture is approved.