UEFA Condemns FIFA Plan for $20B Kushner-Backed Company to Operate World Cup/ Newslooks/ WASHINGTON/ J. Mansour/ FIFA has proposed creating a $20 billion commercial enterprise to manage competitions including the World Cup and Club World Cup. The venture would raise up to $4.2 billion from private investors, including a firm launched by Joshua Kushner. UEFA immediately condemned the proposal, arguing that FIFA does not own the sport or have the right to sell its competitions.
Quick Look
- FIFA plans to establish a company called FIFA Forward Enterprise.
- The proposed operation has an initial equity valuation of $20 billion.
- FIFA hopes to raise as much as $4.2 billion from minority investors.
- Joshua Kushner’s Thrive Eternal is expected to participate.
- J.P. Morgan is working with FIFA on the proposal.
- FIFA’s 211 member associations would need to approve the plan.
- UEFA says the project lacks transparency and crosses a fundamental line.
- Each FIFA member could gain access to as much as $20 million in one-time capital.
- Questions are emerging about Gianni Infantino’s potential role in the enterprise.
Full Rewritten Story
FIFA unveils plans for a new commercial enterprise
GENEVA — FIFA President Gianni Infantino unveiled plans Tuesday for a privately backed company valued at $20 billion that would operate major competitions such as the men’s World Cup and Club World Cup.
The proposal immediately provoked a furious response from UEFA, European soccer’s governing body, which questioned whether FIFA has the authority to place commercial stakes in the game’s most valuable tournaments into private hands.
“It is not FIFA’s to sell,” UEFA said in a statement. “None of us are the owners of football.”
Reports about the proposed company, called FIFA Forward Enterprise, or FFE, first appeared in The Times of London and the Financial Times.
FIFA subsequently confirmed that it wants the enterprise to raise up to $4.2 billion later in 2026. The money would help finance soccer development programs around the world.
The fundraising would be “based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests,” FIFA said.
Kushner-backed investment firm among potential participants
FIFA is working with financial services company J.P. Morgan on the proposed transaction.
Potential investors include Thrive Eternal, an investment operation launched by Joshua Kushner. His brother, Jared Kushner, is the son-in-law of U.S. President Donald Trump and previously served as a senior White House adviser.
The proposal comes shortly after the conclusion of the men’s World Cup, an event that further highlighted the close political and personal relationship between Trump and Infantino.
That relationship has already generated concern among some soccer officials, including UEFA representatives, about the connections between FIFA’s leadership, American politics and private commercial interests.
“The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially,” UEFA said in its response to the project.
FIFA members would have to approve the plan
FIFA currently operates as a nonprofit association based in Switzerland. Its membership consists of 211 national soccer federations.
Those member associations would have to approve the proposed enterprise before it could move forward. FIFA said every member would have an opportunity “to access up to $20 million in one-off capital” through the arrangement.
“This is about the democratization of football worldwide,” Infantino said in FIFA’s announcement.
UEFA, which represents 55 of FIFA’s member associations, urged national federations to scrutinize the plan closely.
The European governing body said it was treating reports about the proposal “extremely seriously. So should every national Football Association.”
“This crosses a line that football’s governing institutions should never cross,” UEFA said.
The disagreement sets up another major institutional battle between FIFA and UEFA over control of soccer’s commercial future.
Proposal recalls FIFA’s failed 2018 investment effort
The FIFA Forward Enterprise plan marks the second time during Infantino’s presidency that he has attempted to secure private backing for a multibillion-dollar transformation of FIFA’s competitions.
In 2018, Infantino promoted a largely secretive proposal involving a $25 billion offer over 12 years and Japan’s SoftBank. The plan would have created new worldwide competitions, including an expanded Club World Cup, and was believed to have financial support connected to Saudi Arabia.
That proposal ultimately collapsed after strong opposition from UEFA. European officials viewed it as a threat to the Champions League and European Championship, two of UEFA’s most commercially valuable competitions.
Despite that defeat, Infantino continued cultivating closer relationships with Saudi Arabian soccer officials and Crown Prince Mohammed bin Salman.
Saudi Arabia has since been selected to stage the 2034 World Cup. The country also provided much of the funding behind the revamped men’s Club World Cup held in the United States in 2025.
Questions emerge about Infantino’s future role
The commercial performance of the recently completed World Cup has strengthened expectations that Infantino will seek reelection next year without opposition.
A victory would give him a fourth and final term as FIFA president, extending his tenure through 2031.
At the same time, speculation has persisted that Infantino may eventually seek another influential position in international soccer after his FIFA presidency ends. He would be 61 when his expected final term concludes.
The Times reported that the proposed FIFA Forward Enterprise could establish a commissioner or chief executive-style position that Infantino might eventually fill.
“This has never been discussed,” FIFA said.
The organization added: “However, the FIFA president and the FIFA administration will and must have leading roles in this entity — if approved.”
FIFA did not provide a timetable for formal deliberations or votes on the plan. Any eventual decision is expected to involve FIFA’s ruling Council, which Infantino chairs, as well as the organization’s 211 national members.
FIFA is scheduled to hold an online congress on Nov. 23. That meeting is expected to confirm the host countries for the 2031 and 2035 editions of the Women’s World Cup, although FIFA has not said whether the new enterprise will be debated during the session.
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