Minutes after the final whistle of the 2026 World Cup, FIFA president Gianni Infantino was already planning the next big play — not on the pitch, but on Wall Street. FIFA has announced plans to sell the commercial rights to its tournaments, including the World Cup, to private investors in a controversial move that triggered an immediate backlash from UEFA, leading European clubs and politicians.
The world governing body is working with US bank JP Morgan to set up a new entity called FIFA Forward Enterprise (FFE). This would raise hundreds of millions of dollars by selling a significant stake in the commercial rights of the men’s and women’s World Cups, and the Club World Cup to investors. FIFA promises that over $10bn (£7.5bn) would then be redistributed back to its 211 member associations. Numerous sources with knowledge of the proposals said FIFA is valuing the new commercial venture at about $20bn.
“FIFA plans to sell stakes in World Cup commercial rights to private investors, sparking fury from UEFA.”
The investment search is being led by Thrive Capital, a company founded by Joshua Kushner — the brother of Donald Trump’s son-in-law Jared Kushner. Infantino said the plan would see “the commercial side of the game [operating] as a focused, dedicated business, with its value shared more and better all around the world”. The plans are subject to approval by a majority of member associations, but FIFA declined to comment when asked when a vote will take place.
The revelation provoked an immediate backlash from UEFA, the European governing body. UEFA released a strongly worded statement accusing FIFA of “attempting to sell the soul of football”. It said: “It is not FIFA’s to sell. The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially.” UEFA is believed to be considering its legal position, and sources at numerous elite clubs were highly critical of the proposal in private. UK prime minister Andy Burnham also condemned the move.
This clash comes after a hugely lucrative World Cup in the US, Canada and Mexico. The Guardian revealed that FIFA’s revenues for the tournament would exceed $15bn, a significant increase on the projected figure of $13bn. Such growth appears to have emboldened Infantino to seek further riches by selling stakes in future tournaments. Relations between FIFA and UEFA are at an all-time low, with UEFA claiming FIFA undermined the integrity of the sport.
For UK readers, the row matters because it could reshape how football’s biggest events are owned and governed. If private investors gain control of commercial rights, ticket prices, broadcast deals and sponsorship could be influenced by profit motives rather than the sport’s wider interests. Elite clubs in the UK are among those privately critical, and any legal action by UEFA could affect English football’s relationship with FIFA tournaments.
Q: What is FIFA Forward Enterprise? FIFA Forward Enterprise (FFE) is a proposed new entity that would consolidate and manage the commercial rights — including media rights, sponsorship and ticketing — of the men’s and women’s World Cups and the Club World Cup. FIFA plans to sell a significant stake to private investors to raise capital, with a valuation of around $20bn.
Q: Who is Joshua Kushner and why is he involved? Joshua Kushner is the founder of Thrive Capital, an investment company, and the brother of Jared Kushner, Donald Trump’s son-in-law. His firm is leading the search for investors for FFE. His involvement has drawn attention because of the family’s political ties.
Q: Why is UEFA so opposed to the plan? UEFA argues that FIFA does not have the right to sell the commercial rights of the World Cup, which it says belong to the entire football community. It accused FIFA of “trying to sell the soul of football” and of a lack of transparency over who would financially benefit. UEFA is considering legal action.
What happens next is uncertain. The plan requires approval from a majority of FIFA’s 211 member associations, but no vote date has been set. UEFA is believed to be exploring legal options, and the political backlash — including from the UK prime minister — could intensify. For now, the beautiful game is facing an ugly fight over its financial future.