FIFA President Gianni Infantino is facing mounting opposition from football federations across Europe, Asia and North America after the governing body unveiled plans to sell a minority stake in a new commercial subsidiary, a proposal critics say would hand private investors unprecedented influence over the sport’s most valuable assets.
European football governing body UEFA voted unanimously to boycott future FIFA competitions if the proposal moves ahead, escalating a dispute that now threatens participation in tournaments ranging from this year’s Women’s Under-20 World Cup to the men’s World Cup in 2030.
“The World Cup cannot be treated as an investment product,” UEFA said in a statement. “No part of it should ever be surrendered to private investors. The World Cup is not for sale.”
The controversy centers on FIFA’s proposal to create “FIFA Forward Enterprise” (FFE), a commercial subsidiary responsible for broadcasting, sponsorship, ticketing and licensing rights linked to FIFA competitions, including the World Cup. FIFA values the unit at about $20 billion and plans to sell a non-controlling minority stake worth $4.2 billion to private equity investors.
The investor consortium is expected to be led by Thrive Eternal, a fund managed by Thrive Capital, the investment firm founded by Josh Kushner, brother of Jared Kushner, the son-in-law of U.S. President Donald Trump.
The proposal requires approval from a majority of FIFA’s 211 member associations by Sept. 19, but opposition has spread rapidly beyond Europe. The Confederation of North, Central America and Caribbean Association Football (CONCACAF), representing 41 national federations, and the Asian Football Confederation (AFC), which has 47 members, have both criticized the plan, raising questions about FIFA’s ability to secure the necessary support.
The backlash intensified after Carlos Cordeiro, former president of the U.S. Soccer Federation and a senior adviser to both Infantino and Trump during this year’s men’s World Cup, resigned in protest.
“FIFA already has access to extraordinary financial resources,” Cordeiro said in a statement. “The organization sits on billions of dollars in reserves and no debt.”
Cordeiro questioned why FIFA needed outside capital after generating $15 billion in revenue during the 2022-2026 World Cup cycle.
“Selling a permanent stake in football’s most valuable asset to raise $4.2 billion makes little sense,” he said. “It is mortgaging football’s future without any compelling justification.”
The former Goldman Sachs partner also criticized what he described as a lack of transparency and due process surrounding the proposal, asking whether a competitive bidding process had taken place and who ultimately stood to benefit from the transaction.
FIFA has rejected suggestions that it is privatizing football, insisting that media reports mischaracterized the proposal.
“Nobody is selling football. This is not something FIFA would ever entertain,” FIFA said, adding that consultations with member associations would continue.
UEFA officials argue that the proposal raises broader concerns about decision-making at FIFA and could weaken the authority of the sport’s governing institutions. The AFC echoed those concerns, warning that the issue extends beyond a single investment proposal.
“This is not the first occasion where major stakeholders have been confronted with significant initiatives after the direction of travel appears to have already been determined,” the AFC said in a letter to its member associations. “Such an approach undermines confidence in FIFA’s governance framework.”
The Confederation of African Football said it would hold an executive committee meeting next week to assess the proposal, while South America’s CONMEBOL has yet to issue an official response.
The standoff also carries significant financial implications. UEFA’s 55 member nations account for many of football’s largest commercial markets and have won the majority of men’s World Cups since the tournament began in 1930. A boycott by European teams could undermine the value of FIFA’s media and sponsorship rights, which underpin the organization’s revenue model.
The controversy comes as FIFA is also considering expanding the 2030 men’s World Cup to 64 teams, a move that has sparked separate concerns among football officials and fans.
For now, the resistance from UEFA and other regional bodies leaves Infantino facing one of the biggest governance challenges of his presidency, with critics arguing that the debate is about more than ownership structures.
“The FIFA World Cup belongs to football. It always will,” UEFA said. “And so long as Europe has a voice, it will never be for sale.”
