FIFA President Gianni Infantino’s plan to create a $20 billion (€17.5 billion) company running the World Cup with private investors – including the family of US President Donald Trump’s son-in-law Jared Kushner – was announced on Tuesday, and immediately attacked by European football governing body UEFA.
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 reported by The Times of London.
FIFA said in a statement FFE would raise up to $4.2 billion (€3.7 billion) later this year to help fund development programmes “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 the New York-based JP Morgan while intended investors include Thrive Eternal launched by Joshua Kushner, whose brother Jared is married to Ivanka Trump, daughter to the US president.
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.
“This crosses a line that football’s governing institutions should never cross. UEFA takes it extremely seriously. So should every National Football Association,” said UEFA in a fiery statement released shortly after the Times article was released.
“The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially,” UEFA said Tuesday, 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 (€17.5 million) in one-off capital,” FIFA said.
“This is about the democratisation of football worldwide,” Infantino said in a FIFA statement, which added that “a consultation process has begun.”
The outline of Tuesday’s surprise announcement was detailed by Infantino to members who met in Manhattan on 18 July, one day ahead of the World Cup final between Spain and Argentina. There, the FIFA president 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 (€7 million) each in development funds through the 2027-30 World Cup commercial cycle, it would be $20 million, then $22 million (€19.3 million) and $24 million (€21 million) in the following cycles.
Prior attempts to privatise assets
The proposed initiative is the second time Infantino has tried to push through a multi-billion dollar deal with private backers in his increasingly controversial 11-year presidency.
In 2018, Infantino proposed a secretive $25 billion (€22 billion) offer over 12 years with Japan’s SoftBank to create new global competitions, including an expanded men’s Club World Cup, seemingly backed by Saudi Arabian investment.
That ultimately failed after meeting fierce resistance from UEFA, which saw threats to its prize assets: the Champions League and the European Championship.
Still, Infantino built closer ties to Saudi football and the kingdom’s Crown Prince Mohammed Bin Salman. Riyadh is set to host the 2034 World Cup and were major funders of the revamped men’s Club World Cup hosted in the US in 2025, which Chelsea won in a 3-0 thriller over Paris Saint Germain.
Infantino’s future
FIFA banked record World Cup income of about $12 billion (€10.5 billion) from the 2026 tournament which had unprecedented high prices for tickets and hospitality across the US, Canada and Mexico.
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 that any CEO of a private firm 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.”
There was no timetable suggested in the Tuesday statement for debate and decisions by FIFA, its ruling Council chaired by Infantino, and the 211 members national football federations it represents.