FIFA president Gianni Infantino has proposed raising up to $20 billion through private investment by effectively selling equity tied to the World Cup, a plan that has prompted threats of a split with UEFA and possible boycotts of future tournaments.
FIFA would create a new subsidiary called FIFA Forward Enterprise (FFE) to manage commercial and event operations, including broadcast, sponsorship, ticketing and licensing, and sell a stake to outside investors. In return, FIFA would distribute proceeds among its 211 member associations, offering an immediate $20 million on approval and additional payments of $20 million, $22 million and $24 million between 2027 and 2038, a total of $66 million after the initial payment, FIFA said.
UEFA has pushed back, saying the sport is “not FIFA’s to sell,” and sources told ESPN that the 55 member associations of Europe’s governing body, including world champions Spain, will hold an emergency meeting this week to formalize opposition. A World Cup boycott is expected to be one option on the agenda; the next men’s edition is not until 2030.
FIFA framed the proposal as a way to “unleash the commercial potential and opportunity that FIFA has,” and pointed to expectations that the 2026 World Cup will generate about $15 billion in revenue when fully audited. The proposal was submitted by Thrive Eternal, a permanent holding company led by venture capitalist Josh Kushner, who is described in the filing as the brother of Jared Kushner.
FIFA noted that permanent holding companies, unlike typical private equity investors, aim to control assets indefinitely, meaning any sale would amount to a permanent disposal of the stake. FIFA said it would still own and control FFE “via majority board representation and exclusive authority over football governance, competitions, the international match calendar and all regulatory and sporting decisions.”
FIFA also said a consultation process has begun following receipt of the proposal. The plan has drawn widespread condemnation and set up a high-stakes dispute over the future financing and governance of the World Cup.
