FIFA has ignited a fierce power struggle within global soccer by announcing plans to create a $20 billion subsidiary to manage its commercial operations, a move that prompted UEFA to accuse the world governing body of putting the game’s “soul” up for sale. The proposal seeks to attract billions in private capital by offering minority stakes to external investors.
The Structure of the Deal
Under the plan revealed on Tuesday, FIFA would establish a new entity named FIFA Forward Enterprise (FFE) to oversee “commercial and event operations” for its flagship tournaments, including the recently concluded 48-team World Cup. While FIFA would retain sole control, it intends to sell up to 20% of the subsidiary to private investors, aiming to raise up to $4.2 billion.
A vehicle founded by Joshua Kushner, the brother of Jared Kushner, U.S. President Donald Trump’s son-in-law, is expected to lead the proposed investor group. FIFA is working with bankers at JPMorgan to facilitate the process, with former Liberty Media CEO Greg Maffei serving as a commercial adviser.
Infantino’s Vision of “Democratisation”
FIFA President Gianni Infantino framed the initiative as a mission to redistribute wealth and grow the sport globally. He stated that all net benefits would be reinvested into the game, emphasizing that the organization’s job is to ensure football develops in every corner of the world.
“This is about the democratisation of football worldwide,” Infantino said. The capital raised is intended to fund an optional program allowing member associations to access up to $20 million in one-off capital for infrastructure, coaching, and grassroots development, a figure set to rise to $24 million by the 2035-2038 cycle.
FIFA stressed that external investors would hold only a minority stake without any operational role and would have no influence over football governance, the match calendar, or regulatory decisions.
Fierce Criticism and a Deepening Rift
The proposal drew immediate and scathing criticism from UEFA, deepening the existing rift between the two powerful bodies. UEFA released a statement asserting that the plan “crosses a line that football’s governing institutions should never cross.”
“The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially,” UEFA stated. “None of us are the owners of football. It is not FIFA’s to sell.”
The backlash extended beyond Europe. Britain’s new Prime Minister Andy Burnham condemned the plan on social media, writing, “The World Cup is not a product… Dress the deal up however you like. Once you have sold a piece of it, you have sold out.”
Richard Sheehan, a finance professor at the University of Notre Dame, dismissed the proposal as a “farce” from the perspective of a non-profit organization, labeling it a “money grab” by the current leadership.
Investor Profile and Next Steps
The expected lead investor, Thrive Eternal, is a new permanent capital vehicle launched by Joshua Kushner’s Thrive Capital. The strategy focuses on long-term minority stakes in franchises and cultural institutions, having recently invested in Major League Baseball’s San Francisco Giants. A source confirmed that Jared Kushner is not a potential investor.
A FIFA spokesperson said the proposal will be presented to the 211 member associations and the FIFA Council, who will be the final decision-makers. The controversy sets the stage for a significant battle over the future financing and control of the world’s most popular sport as Infantino prepares for a reelection bid next year.
