FIFA president Gianni Infantino has revealed a proposal to establish a $20 billion company in collaboration with private investors, including the Kushner family, to oversee the operations of the World Cup. The announcement on Tuesday was met with criticism from UEFA, the European soccer governing body, which stated that football does not belong to FIFA to sell.
The initiative involves the creation of a commercial subsidiary named FIFA Forward Enterprise (FFE) to manage tournaments such as the World Cup and Club World Cup. FIFA disclosed that FFE aims to raise up to $4.2 billion later this year to support development programs, with an initial equity valuation of $20 billion. The organization is seeking long-term investors to acquire minority, non-controlling stakes.
J.P. Morgan is collaborating with FIFA on this venture, with potential investors including Thrive Eternal, spearheaded by Joshua Kushner, the brother of Jared Kushner, who is the son-in-law of U.S. President Donald Trump. The recent men’s World Cup further solidified the connections between Trump and Infantino, raising concerns, particularly from UEFA, about the implications of these relationships.
UEFA expressed strong objections to the reports of selling stakes in FIFA competitions, emphasizing that the essence and governance of football should not be subject to commercial trade without transparency on financial beneficiaries. FIFA, a non-profit association based in Switzerland representing 211 national federations, stated that its members would have the opportunity to access up to $20 million in one-time capital.
Infantino emphasized that the proposed project is aimed at democratizing football globally, with ongoing consultations initiated. UEFA underscored the seriousness of the matter, urging all national football associations to take note of the potential ramifications. The European body, comprising 55 FIFA members, warned against crossing boundaries that could compromise the integrity of football governance institutions.
During a meeting in Manhattan on July 18 before the World Cup final, Infantino outlined the key details of the project to FIFA members, highlighting the financial benefits available through the “FIFA Fast-Forward Program” until 2038. The program offers increased development funds to member federations, with amounts rising in subsequent World Cup cycles.
The significant revenue generated by the 2026 World Cup, hosted across the U.S., Canada, and Mexico, poses challenges for future editions, particularly regarding financial sustainability. FIFA assured member federations of retaining control over FFE and maintaining authority over football governance and regulatory decisions.
This latest initiative echoes Infantino’s previous unsuccessful attempt in 2018 to secure a multi-billion dollar deal with private investors for new global competitions. Despite facing opposition, the FIFA president’s tenure has been marked by financial success, positioning him for a potential uncontested re-election next year. The possibility of Infantino assuming a commissioner role within the new FFE entity has been speculated, although FIFA clarified that such discussions have not taken place yet.
With no set timeline for deliberations and decisions, FIFA will convene an online congress in November to confirm hosts for upcoming Women’s World Cup editions.
