FIFA has proposed forming a new commercial vehicle to run the World Cup and other competitions, seeking private investors for an entity it values at $20 billion. The announcement immediately drew a forceful response from UEFA, which warned the plan crossed a fundamental line in the governance of the sport.
What FIFA is proposing
The project, reported by British and international outlets, would see FIFA create FIFA Forward Enterprise (FFE) to manage tournaments such as the men’s World Cup and the Club World Cup. FIFA said FFE would raise up to $4.2 billion later this year by selling minority, non-controlling stakes to carefully selected long-term investors.
FIFA has signalled that the plan would preserve its not-for-profit status as a Swiss association of its 211 national member federations, while offering those members a chance to receive a one-off capital payment of up to $20 million each.
| Item | Figure |
|---|---|
| Initial equity valuation | $20 billion |
| Planned capital raise this year | $4.2 billion |
| One-off payment available per member | Up to $20 million |
Who's involved
FIFA said it is working with J.P. Morgan to find investors. Among the reported backers is Thrive Eternal, a vehicle launched by Joshua Kushner. The Kushner family connection is politically sensitive in the United States because Joshua’s brother, Jared Kushner, is a son-in-law of the US President.
Why UEFA objects
UEFA’s statement was unequivocal:
"It is not FIFA’s to sell. None of us are the owners of football."The European confederation said it regarded the reports of selling stakes in FIFA competitions as a matter of grave concern and urged national associations to treat the proposals seriously.
UEFA warned that the plan threatened the “soul and governance of football” and criticised the apparent lack of transparency about who would profit from the deal. The body, which represents 55 of FIFA’s 211 members, called the proposals a line that football’s institutions should not cross.
FIFA’s defence and immediate consequences
FIFA defended the scheme as a vehicle for funding development programmes worldwide. In a statement, President Gianni Infantino described the initiative as being about the “democratization of football worldwide,” and said members would be able to access capital as part of the arrangements.
Under FIFA’s model, the association would offer minority, non-controlling shares to long-term investors, preserving theoretical control with its member federations. However, UEFA’s robust response makes clear that ratification by national associations cannot be taken for granted. The 211 national members must approve any structural change, giving every federation a formal role in deciding whether to proceed.
- Proposal would create a $20bn entity to manage flagship FIFA competitions.
- FIFA aims to raise $4.2bn initially and offer members up to $20m each.
- UEFA has condemned the plan, arguing it threatens football’s governance and lacks transparency.
For British readers, the dispute carries practical consequences. English clubs, national associations and fans have direct stakes in how revenues from global tournaments are distributed and governed. Any move that shifts commercial control of the World Cup away from the international membership towards private investors would reshape long-standing financial and political relationships within the sport.
The coming weeks will centre on whether FIFA can secure backing from its 211 members and whether UEFA and other confederations can extract concessions to protect governance, transparency and the distribution of future revenues.
