FIFA plans to create a semi-private subsidiary for the commercial operations of the World Cup and other competitions.
The governing body said Tuesday that FIFA Forward Enterprise, or FFE, could carry an initial valuation of $20 billion. FIFA would retain control while selling minority, non-controlling interests of up to 20% to long-term investors.
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The sale could raise $4.2 billion. FIFA said it would keep “exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions.”
Infantino and Investor Questions Fuel Backlash
FIFA responded after The Times revealed the plan through two sources familiar with the discussions.
The newspaper reported that Gianni Infantino could become FFE commissioner after his expected next term ends in 2031. It said the role might allow the 56-year-old FIFA president to earn tens of millions of pounds. FIFA did not confirm that claim.
However, FIFA said Joshua Kushner’s Thrive Eternal would likely lead the investor group. Kushner is the brother of Jared Kushner, US President Donald Trump’s son-in-law.
FIFA is also working with JPMorgan, which tried to finance the failed European Super League.
UEFA reacted sharply. “This crosses a line that football’s governing institutions should never cross. UEFA takes it extremely seriously,” it 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.”
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The Times quoted a senior football figure calling the proposal “potentially much worse than the European Super League.” Another source warned of “unacceptable” conflicts of interest involving FIFA and Infantino.
FIFA Promises More Than $10 Billion for Development
FIFA said each of its 211 member associations could access up to $20 million in one-off development capital. The voluntary offer would come through the FIFA Fast Forward Programme, not individual equity stakes in FFE.
The money could support stadiums, coaching, national teams, women’s football and grassroots programmes. FIFA estimates total development funding could exceed $10 billion over four years.
The plan still needs majority support from member associations and approval from the FIFA Council. FIFA said outside investors would have no operational role and all net benefits would return to football.
The proposal follows the first 48-team World Cup across Canada, Mexico and the United States. Before the tournament, FIFA forecast more than $8 billion in 2026 revenue. It now expects the 2023 to 2026 cycle to exceed $15 billion.
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Infantino has also discussed a possible 64-team World Cup in 2030. Critics fear private capital could pressure FIFA to expand competitions or stage them more often.
Infantino previously backed a $25 billion investment plan for an expanded Club World Cup and global Nations League. European resistance derailed it in 2018. FIFA later expanded the Club World Cup from seven to 32 teams in 2025.
The 2001 collapse of marketing partner ISL reportedly cost FIFA between $30 million and $115 million. FIFA remains a Swiss-based non-profit association with favourable tax treatment.
