FIFA's Controversial Plan to Sell Stakes in $20 Billion World Cup Subsidiary

Singapore, Singapore Jul 29, 2026 ALN: [ZURICH] FIFA announced on July 28 that it intends to create a subsidiary valued at US$20 billion, which will oversee the World Cup and other events. This initiative includes offering stakes of up to 20 percent to external investors, a decision that has sparked significant backlash from UEFA, which accused FIFA of compromising the integrity and essence of the sport by putting its "soul" up for sale.

The proposed subsidiary, named FIFA Forward Enterprise, is designed to manage the commercial and event operations associated with FIFA’s activities. FIFA, which recently hosted the largest World Cup in history with 48 teams competing across the United States, Canada, and Mexico, plans to maintain control over the subsidiary while inviting private investors to acquire minority stakes. This move is projected to generate up to US$4.2 billion in funding.

Notably, the investment group expected to lead this initiative is backed by Thrive Eternal, a vehicle founded by Joshua Kushner, the brother of Jared Kushner, who is known as a senior advisor to former U.S. President Donald Trump. This connection adds a layer of complexity and controversy to the proposal, deepening the rift between FIFA and UEFA as they continue to navigate their respective roles in the global football landscape. UEFA has positioned itself as the guardian of European football, while FIFA, a non-profit organization, is focused on expanding access and financial support for the sport worldwide.

FIFA stands as one of the wealthiest organizations in the sporting world, generating substantial revenue through broadcasting rights, sponsorships, and various commercial agreements tied to the World Cup. Despite its financial success, FIFA asserts that the establishment of the new subsidiary is aimed at increasing funds to enhance global participation in football, with all net proceeds earmarked for reinvestment into the sport.

"Football is the world’s most popular sport and an extraordinary engine of human and social development," FIFA President Gianni Infantino stated. He emphasized the importance of transforming football's popularity into commercial success, which he believes should benefit all levels of the sport. Infantino further remarked that FIFA's role is to ensure that football's growth is sustainable and inclusive across the globe.

In outlining the governance structure of the new subsidiary, FIFA confirmed that it would retain full control over football governance, competitions, match scheduling, and all regulatory and sporting decisions. This assertion was made to alleviate concerns regarding potential conflicts of interest or loss of oversight in the sport's governance.

The proposal has been met with vehement opposition from UEFA. The organization stated that FIFA's decision "crosses a line that football’s governing institutions should never cross." UEFA's response highlighted the seriousness of the situation, calling for all stakeholders in football—ranging from national associations to players and fans—to recognize the implications of such a move.

"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," UEFA's statement read. This sentiment reflects a growing concern among various stakeholders regarding the commercialization of football and the potential consequences for its governance and integrity.

Relations between UEFA and FIFA have been strained in recent years, characterized by disagreements over disciplinary procedures, refereeing issues, and match operations. UEFA President Aleksander Ceferin notably declined to attend the World Cup final, signaling the depth of the rift between the two governing bodies.

FIFA has indicated that the proposal will be presented to its 211 member associations and the FIFA Council, which will ultimately decide whether to proceed with the plan. FIFA's intention is to utilize the capital raised from this initiative to establish a program that would allow member associations to access up to US$20 million in one-off funding. This funding is intended for various purposes, including infrastructure development, coaching, support for national teams, grassroots initiatives, and the promotion of women's football. The funding cap is set to increase to US$24 million by the 2035-2038 cycle, indicating FIFA's long-term vision for investment in the sport.

Infantino, who is slated for re-election as FIFA president next year, expressed his belief that every member association should have the opportunity to access a fair share of the available funding, emphasizing the goal of democratizing football on a global scale. This perspective aims to ensure that even smaller nations can benefit from FIFA's financial resources and develop their footballing infrastructure.

Critics of the plan extend beyond UEFA and include prominent political figures. For instance, Britain’s new Prime Minister Andy Burnham publicly condemned the proposal on social media, asserting that the sport does not belong to investors. "The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell," Burnham wrote on X. His comments underscore a growing sentiment that the commercialization of football could undermine its cultural and social significance.

FIFA has engaged with investment bankers at JPMorgan to facilitate the process of bringing in external investors, indicating a serious commitment to the financial aspect of this initiative. Additionally, former Liberty Media CEO Greg Maffei has been involved as a commercial advisor, lending his expertise to the project. Thrive Eternal, the investment strategy launched by Thrive Capital, is set to spearhead the investor group, which emphasizes a focus on making long-term investments in franchises and cultural institutions. Earlier this year, Thrive Eternal acquired a minority stake in Major League Baseball’s San Francisco Giants, further highlighting its interest in prominent sporting entities.

As the situation unfolds, the implications of FIFA's proposed subsidiary and its potential partnerships with private investors will likely continue to be a topic of heated debate within the football community. The balance between commercial interests and the integrity of the sport remains a critical concern, as stakeholders grapple with the future direction of football governance and its accessibility to fans and players around the world.