FIFA plans to sell stakes in the World Cup

FIFA has announced plans to create a new commercial subsidiary valued at about $20 billion and sell minority, non-controlling stakes to external investors, aiming to raise up to $4.2 billion.

The entity, called FIFA Forward Enterprise (FFE), would consolidate the governing body’s commercial and event operations, including the World Cup and Club World Cup.

FIFA President Gianni Infantino said the move would support global football development while keeping full control over governance.

“Football is the world’s most popular sport and an extraordinary engine of human and social development,” Infantino stated.

“Parts of the game have turned that popularity into remarkable commercial value – and we celebrate that success and want it to continue, because it lifts the whole game. Our job is to make sure the rest of football grows with it.”

He added that the plan is “about the democratisation of football worldwide.”

Under the proposal, FIFA would retain sole control and exclusive authority over competitions, the match calendar, and all regulatory decisions.

External investors would take minority stakes of up to 20 percent. Member associations could also access funding, with reports indicating opportunities for the 211 national federations.

FIFA is working with JPMorgan on the fundraising.

Thrive Eternal, a vehicle founded by Joshua Kushner (brother of Jared Kushner), is expected to be a lead investor, with former Liberty Media CEO Greg Maffei advising and former Disney CEO Bob Iger serving as an adviser to the fund.

UEFA sharply criticized the plan. “This crosses a line that football’s governing institutions should never cross,” UEFA said.

“The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA’s to sell.”

The European body urged national associations, leagues, clubs, players, and supporters to take the matter seriously.

Football Supporters Europe called for Infantino’s resignation, stating: “The World Cup is not for sale. Enough of this charade. FIFA member associations — and everyone who cares about the future of the game — must stand up to the man who wants to sell world football. Gianni Infantino must go.”

The proposal requires approval from the FIFA Council and the 211 member associations.

FIFA said all net benefits would be reinvested into the game worldwide, with investors chosen for long-term alignment and geographic diversity.

No firm timeline for a final decision has been set, though an online FIFA Congress is scheduled for November.

The announcement comes shortly after the 2026 World Cup and amid Infantino’s ongoing presidency, which could extend to 2031.