FIFA President Gianni Infantino’s plan to create a $20 billion (NZ$34 billion) company running the World Cup with private investors including the Kushner family was announced today — and immediately attacked by European football body UEFA.
“It is not FIFA’s to sell,” UEFA said in a statement. “None of us are the owners of football.”
Infantino’s plans to form a commercial subsidiary, which would be called FIFA Forward Enterprise (FFE), running competitions like the World Cup and Club World Cup was first
FIFA said in a statement FFE would raise up to $4.2 billion later this year to help fund development programs “based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests”.
FIFA is working with J.P. Morgan while intended investors include Thrive Eternal launched by Joshua Kushner, whose brother Jared Kushner is a son-in-law of US President Donald Trump.
The men’s World Cup that finished this month only deepened the political and personal ties between Trump and Infantino, and fuelled concerns about those ties including from UEFA.
“The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially,” UEFA said, responding to the reports of selling stakes in FIFA competitions.
FIFA is currently a Swiss-based not-for-profit association of its 211 national member federations worldwide.
Those members must approve any plan and would get the chance “to access up to $20 million in one-off capital,” FIFA said.
“This is about the democratization of football worldwide,” Infantino said in a FIFA statement, which added that “a consultation process has begun.”
UEFA, however, said it took reports of the project “extremely seriously. So should every national Football Association.”
“This crosses a line that football’s governing institutions should never cross,” said UEFA, which comprises 55 of the FIFA members.
FIFA’s $20M offer to member federations
The outline of the surprise announcement was, FIFA said, detailed by Infantino to members who met in Manhattan on July 18 ahead of the World Cup final. There, Infantino promised to “unleash the commercial potential and opportunity that FIFA has”.
FIFA’s statement about its proposed project led on how much money each of its 211 members could get through 2038 in the “FIFA Fast-Forward Program”.
Instead of the currently promised $8 million each in development funds through the 2027-30 World Cup commercial cycle, it would be $20 million, then $22 million and $24 million in the following cycles.
FIFA banked record World Cup income of about $12 billion from the 2026 tournament which had unprecedented high prices for tickets and hospitality across the US, Canada and Mexico. It already was unclear how that money could be matched from Spain, Portugal and Morocco co-hosting the 2030 men’s edition.
Member federations could choose if they wanted to take part in the new financial opportunities, FIFA said.
“FIFA would retain sole control of FFE and exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions,” the football body said.
FIFA’s integrity standards were called into question during the World Cup, including by team coaches, Norway’s football federation and a top European public body, the Council of Europe.
FIFA’s previous attempt to privatise assets
The project announced is the second time in Infantino’s increasingly controversial 11-year presidency he has tried to push through a multi-billion dollar deal with private backers.
In 2018, Infantino proposed a secretive $25 billion offer over 12 years with SoftBank of Japan to create new global competitions, including an expanded men’s Club World Cup, seemingly backed by Saudi Arabian money.
That ultimately failed after meeting fierce resistance from UEFA, which saw threats to its prize assets: the Champions League and the European Championship.
Infantino still built closer ties to Saudi football and the kingdom’s Crown Prince Mohammed Bin Salman. Saudi Arabia will host the 2034 World Cup and largely funded the revamped men’s Club World Cup hosted in the US last year.
Infantino’s future?
The financial success of the just-ended World Cup has looked likely to ensure Infantino is re-elected next year unopposed for a fourth and final term in office through 2031.
At his re-election by acclaim in 2023 in Rwanda, Infantino suggested any CEO delivering similar financial results would be kept in the job forever.
Speculation has swirled for years Infantino might want a different global role in football beyond his FIFA presidency, which is due to end when he is 61.
The Times reported Tuesday that a CEO-like commissioner role of the new FFE operation could be created for Infantino.
“This has never been discussed,” FIFA said in a statement. “However, the FIFA president and the FIFA administration will and must have leading roles in this entity — if approved.”
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There was no timetable suggested for debate and decisions by FIFA, its ruling Council chaired by Infantino, and the 211 members.
FIFA is scheduled to hold an online congress on Nov. 23 to confirm hosts of the Women’s World Cup editions in 2031 and 2035.
