Last month’s World Cup final in the US was watched by millions, but less than two weeks after the trophy was lifted, FIFA announced a plan that has sparked a furious backlash: selling a slice of the tournament to private investors. The governing body wants to create a new company that would control the commercial rights to the men’s and women’s World Cups – and critics, including European football’s governing body Uefa and the UK Prime Minister, say it crosses a line.
At the heart of the plan is a proposed new entity called FIFA Forward Enterprise (FFE). FIFA says it will invite third parties to make “minority, non-controlling investments” in FFE, which would consolidate its commercial and event operations. The money raised – at least $10bn (£7.5bn) according to FIFA – would then be distributed to its 211 member associations, with each eligible for up to $20m (£15m) in “one-off capital” for development. The investment group is expected to be led by Thrive Capital, an American venture capital firm founded by Joshua Kushner, the brother of Donald Trump’s son-in-law Jared. FIFA is working with US bank JP Morgan on the deal.
“FIFA's controversial plan to sell a stake in the World Cup to private investors has sparked backlash from Uefa and UK PM Burnham – here's what it means.”
FIFA president Gianni Infantino has defended the plan, saying it will allow the commercial side of the game to “operate as a focused, dedicated business, with its value shared more and better all around the world”. He argues that every nation should benefit from the riches football creates. But the proposal has been met with immediate and widespread condemnation. In a strongly worded statement, Uefa accused FIFA of “attempting to sell the soul of football” and said the plan “crosses a line that football’s governing institutions should never cross”. The Football Supporters’ Association (FSA) called it a “new low” and said fans would “fight back”. UK Prime Minister Andy Burnham was equally blunt: “The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell... Once you have sold a piece of it, you have sold out.”
This is not the first time FIFA has faced accusations of putting money ahead of the game. The organisation has a long history of corruption scandals and questions over its governance – the so-called “FIFA gate” of 2015 saw several officials indicted by US prosecutors. More recently, the awarding of the 2022 World Cup to Qatar and the 2026 tournament to the US, Canada and Mexico have been controversial. Reports suggest FIFA’s revenues for the 2026 World Cup exceeded $15bn, far above initial projections, emboldening Infantino to seek even greater returns. The plan to create a commercial subsidiary and sell a stake is a significant shift – it would effectively hand control of the World Cup’s future revenues to outside investors, a move that critics say will prioritise profit over the integrity of the sport.
For UK readers, the implications are real. The Premier League is the most-watched domestic league in the world, and its clubs rely on a healthy international game. If FIFA sells a stake in the World Cup to private equity, it could lead to higher ticket prices, more matches squeezed into already congested calendars, and a widening gap between the richest and poorest nations. The Club World Cup – another FIFA competition included in the plan – could see its format changed to maximise returns. UK fans, already worried about rising costs and fixture overload, have a direct stake in the outcome. The FSA has vowed to “do everything in our power as fans to fight back”.
Q: What exactly is FIFA proposing? A: FIFA wants to create a new subsidiary called FIFA Forward Enterprise (FFE) that would own the commercial rights to the men’s and women’s World Cups and the Club World Cup. It plans to sell a minority stake in FFE to private investors, raising billions of dollars that would be distributed to its 211 member associations. The plan needs approval from a majority of those associations.
Q: Who is behind the investment? A: The investment group is being led by Thrive Capital, a US venture capital firm founded by Joshua Kushner – brother of Jared Kushner, Donald Trump’s son-in-law. FIFA is also working with JP Morgan, one of the world’s largest investment banks. If the deal goes ahead, Thrive Capital is expected to lead the investor group.
Q: Why is this controversial? A: Critics say it turns the World Cup into a product to be sold to the highest bidder, undermining its status as a global sporting event. Uefa has accused FIFA of “selling the soul of football”, and the Football Supporters’ Association says it “threatens the future of the game for short-term commercial gain”. There are also questions about transparency – specifically, who would personally benefit. FIFA has said there has been no discussion of Infantino becoming CEO of FFE, but the plan has nonetheless raised alarm.
Q: What happens next? A: The proposal must be approved by a majority vote of FIFA’s 211 member associations. No date has been set for that vote. Uefa is believed to be considering legal action, and the backlash from governments, clubs and fan groups could make it politically difficult for some associations to support the plan. The outcome will determine whether the World Cup’s commercial future lies with private investors – or with the people who fill the stands.