--- title: FIFA Draws Fury Over Plan to Sell Stakes in World Cup description: A plan to open the biggest sporting tournament, in part, to private investors has drawn widespread backlash from soccer associations and politicians around the world. canonical: https://time.com/article/2026/07/29/fifa-forward-enterprise-world-cup-commercial-invest-infantino-trump-kushner/ author: Miranda Jeyaretnam article:opinion: false article:content_tier: free article:published_time: 2026-07-29T10:30:00.000Z article:modified_time: 2026-07-30T10:30:11.000Z article:section: Sports og:title: FIFA Draws Fury Over Plan to Sell Stakes in World Cup og:description: A plan to open the biggest sporting tournament, in part, to private investors has drawn widespread backlash from soccer associations and politicians around the world. og:url: https://time.com/article/2026/07/29/fifa-forward-enterprise-world-cup-commercial-invest-infantino-trump-kushner/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt878aafa5d705c16b/6a69d4c4077c4365822b9331/Infantino_Trump.jpg?branch=production&width=1920&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: Infantino Trump.jpg og:type: article twitter:card: summary_large_image twitter:title: FIFA Draws Fury Over Plan to Sell Stakes in World Cup twitter:description: A plan to open the biggest sporting tournament, in part, to private investors has drawn widespread backlash from soccer associations and politicians around the world. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt878aafa5d705c16b/6a69d4c4077c4365822b9331/Infantino_Trump.jpg?branch=production&width=1920&quality=75&auto=webp&crop=16:9 ---  # FIFA Draws Fury Over Plan to Sell Stakes in World Cup > Sponsored content. 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Terms and conditions apply. * Savings buckets are a feature of Ally Bank's Savings Account. * No ATM fees from Ally Bank at Allpoint and Moneypass ATMs plus we reimburse for fees charged by other ATM owners nationwide up to $10 per statement cycle. * Early direct deposit offers eligible direct deposits up to two days sooner. * Spending buckets are a feature of Ally Bank's Spending Account.  by [Miranda Jeyaretnam](https://time.com/author/miranda-jeyaretnam/)  ## Miranda Jeyaretnam Reporter Updated: Jul 30, 2026 10:30 AM UTCPublished: Jul 29, 2026 10:30 AM UTC  FIFA President Gianni Infantino and U.S. President Donald Trump in conversation after the award ceremony during the FIFA World Cup 2026 Final match between Spain and Argentina at New York New Jersey Stadium in East Rutherford, N.J., on July 19, 2026. FIFA President Gianni Infantino and U.S. President Donald Trump in conversation after the award ceremony during the FIFA World Cup 2026 Final match between Spain and Argentina at New York New Jersey Stadium in East Rutherford, N.J., on July 19, 2026.Alex Pantling—FIFA/Getty Images  by [Miranda Jeyaretnam](https://time.com/author/miranda-jeyaretnam/)  ## Miranda Jeyaretnam Reporter Updated: Jul 30, 2026 10:30 AM UTCPublished: Jul 29, 2026 10:30 AM UTC FIFA is considering selling a minority stake in the World Cup’s commercial rights, a plan that critics say would turn soccer’s biggest tournament into an investment asset and threaten to upend the sport. FIFA said Tuesday that it will create a $20 billion subsidiary to house its commercial and event operations and offer external investors the opportunity to buy shares of up to 20% of the subsidiary. FIFA claims that offering minority interests to private investors would allow it to raise up to $4.2 billion that can be used to fund soccer development programs worldwide. FIFA says it would retain sole control of the enterprise and “exclusive authority” over its competitions, governance, and all regulatory and sporting decisions. “Football is the world’s most popular sport and an extraordinary engine of human and social development,” FIFA President [Gianni Infantino](https://time.com/collection/time100-sports/2026/gianni-infantino/) said in a [statement](https://inside.fifa.com/organisation/media-releases/intends-expand-football-development-funding-usd-10-billion-subject-approval-member-associations). “Parts of the game have turned that popularity into remarkable commercial value—and we celebrate that success and want it to continue, because it lifts the whole game.” But the move has faced backlash from soccer officials, fans, and political leaders, who say it would overly commercialize the sport. Critics also fear that it could deepen FIFA’s already-controversial ties with U.S. President Donald Trump through potential investors linked to his family. The proposal comes on the heels of the 2026 men’s World Cup, which was co-hosted by the U.S. and brought in a record $12 billion in revenue for the organization. “The soul and governance of football are not assets to trade—especially with zero transparency as to who gains financially,” European soccer body UEFA said in a [statement](https://x.com/UEFA/status/2082125178440401072?s=20). The organization is [reportedly](https://www.espn.com/soccer/story/%5F/id/49470028/uefa-blasts-fifa-proposal-10-billion-world-cup-private-investment) planning to hold an emergency meeting this week to discuss plans to oppose the proposal, including a potential World Cup boycott. “The close relationship between the FIFA President and the US President has reached a financial dimension that is deeply damaging football,” [posted](https://x.com/SeppBlatter/status/2082163332463661084) Infantino’s predecessor, former FIFA president Sepp Blatter, who was dogged by accusations of corruption and financial mismanagement during his tenure but has since become a vocal critic of his successor. “No one has the right to sell our game.” ## Plan to bring in private investors The commercial subsidiary, “FIFA Forward Enterprise” (FFE), would consolidate FIFA’s commercial rights, including broadcast, sponsorship, ticketing and licensing, with the operational delivery of FIFA tournaments. The enterprise would raise capital from investors and significantly increase funding for FIFA’s 211 member associations, according to FIFA’s announcement. Revenue generated through FFE would also help finance increased development funding for its member associations, FIFA said. FFE has an initial implied equity valuation of $20 billion, estimated by J.P. Morgan. The existing FIFA Forward program is budgeted to provide $8 million in development funds to each member association during the 2027-30 World Cup cycle. Under the proposal, the program would increase funding to $20 million each during the upcoming cycle, and to $22 million and $24 million each for the following four-year cycles through 2038. Each member association would also be able to access an optional $20 million in one-off, immediate funding for special development projects through a new “FIFA Fast Forward Program.” The funding could go toward infrastructure, coaching, national teams, competitions, grassroots football, and the women’s game. That means, if the proposal is approved, member associations that opt into the voluntary program could get up to a total $40 million in funding for the upcoming cycle. In its proposal to member associations, FIFA argued that the World Cup has been under-monetized compared to other sporting competitions, and that FFE would allow FIFA to separate its commercial operations from governance of the sport. FFE would remain a FIFA-controlled entity. FFE would be managed by a dedicated team and board of directors, none of whom have been appointed yet, according to FIFA’s website. “The proposal does not establish a future role or compensation package for any specific individual,” FIFA said. [Bloomberg](https://www.bloomberg.com/news/articles/2026-07-30/fifa-sale-plan-enraging-fans-began-with-kushner-talks-last-year) reported that the idea for FFE first arose last year during private discussions between Infantino and Joshua Kushner, the brother of Trump’s son-in-law Jared Kushner. J.P. Morgan was reportedly brought in early this year to develop a way for FIFA to monetize its media rights and pitch it to potential investors. Thrive Eternal, a company launched by Kushner, is expected to lead the investor group for FFE. Thrive is a permanent capital investment firm created earlier this year to buy and hold minority stakes in sports teams and other iconic brands. Kushner does not have political ties to the Trump Administration. His most recent political donation was to the Obama Foundation, according to [public records](https://www.obama.org/about/contributors/). Investors in FFE would not have a seat on FIFA’s Council or be able to vote in FIFA’s congress. [The Guardian](https://www.theguardian.com/football/2026/jul/28/fifa-world-cup-plans-explained-gianni-infantino-uefa-football) also reported that investors would not receive dividends from the scheme. Instead, they would potentially realise a return if they sell their stake in future, the organization said. “Outside investors will have only a minority stake in FFE and will not play any operational role,” FIFA said in its announcement. “Equally, they ​are investing in a subsidiary of FIFA, and not in FIFA itself. For FIFA, nothing changes.” TIME has reached out to FIFA for comment. Thrive Capital, a venture capital firm founded by Kushner, said it did not have a comment to provide at this time. ## Soccer confederations, lawmakers criticize proposal The outline of the proposed project was shared with FIFA’s member associations in Manhattan on July 18, FIFA told the [Associated Press](https://apnews.com/article/world-cup-fifa-investors-kushner-infantino-uefa-8345e0864e3a217632733810c232b423). The final decision on the proposal will require majority support from FIFA’s member associations and approval by the FIFA council. FIFA began the official consultation process on Tuesday, and member associations will have until Sept. 19 to decide on the proposal. FFE is “part of a democratic process, a consultation process,” Infantino said on Wednesday. “Above all, it is an opportunity but not an obligation.” “If, and only if, it is approved by the majority of our 211 member associations and the FIFA council, it would be a FIFA-owned and controlled subsidiary,” he added. If the proposal is approved, FFE would begin operating next year, according to FIFA. But several of FIFA’s confederations have criticized the fact that the proposal was announced publicly before the consultation process was launched. Some critics have also argued that the proposed financial benefit through the voluntary program to member associations creates an incentive for them to accept the broader proposal. “Today we have learned of FIFA’s deadline to associations to support their proposals or have the one-off payout offer withdrawn. This says everything you need to know about this plan,” UEFA, which represents 55 FIFA member associations, said in a [Wednesday statement](https://www.uefa.com/news-media/news/02a7-21386623beab-40b7ac297b44-1000--further-uefa-statement-on-fifa-plans/). FIFA said that member associations will not receive ownership stakes in FFE and that the proposed funding is not an equity allocation. UEFA was not the only soccer body to express concern about the proposal. The European soccer confederation said that it has had “discussions with many stakeholders across the game” and that there is “significant and growing opposition to FIFA’s scheme.” CONCACAF, the confederation that governs soccer in North America, Central America, and the Caribbean and that represents 35 of FIFA’s member associations, [said](https://x.com/JacobsBen/status/2082387863438508276) it was “deeply concerned by the lack of due process,” including the fact that plans had been announced “before any discussion with the relevant governance bodies and stakeholders has taken place.” The Football Association, England’s national football governing body, also [said](https://www.thefa.com/news/2026/jul/29/statement-fifa-world-cup-proposal-20262907) it was “deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.” FA Chair Debbie Hewitt is one of FIFA’s eight vice-presidents. The Asian Football Confederation also [expressed concern](https://www.the-afc.com/en/more/afc%5Fnews.html/news/afc-statement-on-the-fifa-forward-enterprise-proposal) about the proposal and said it was not consulted on it. The body, which represents 46 FIFA member associations, said it “is disappointed that a matter of such significance entered the public domain” before it was discussed “through the appropriate and established governance channels.” It’s also not the first time that FIFA has faced backlash over a proposed commercial deal. In 2018, Infantino pursued a $25 billion deal with a consortium led by Japanese firm SoftBank that would finance an expanded Club World Cup and a new global Nations League. But the commercial package ultimately failed due to opposition. UEFA had raised concerns about transparency and said that the new competitions would threaten European tournaments. Other sports organizations have also created separate commercial entities, including UEFA which has a joint venture with European Football Clubs to sell commercial rights to certain competitions. “Establishing subsidiaries is nothing new for FIFA,” the organization said on its website. The proposal comes as relations between UEFA and FIFA have strained. UEFA President Aleksander Čeferin skipped the World Cup final after disputes with FIFA over disciplinary procedures and match operations. UEFA said FIFA had “crossed a red line” when FIFA [suspended the implementation of an automatic one-match ban](https://time.com/article/2026/07/10/world-cup-fifa-infantino-trump-us-balogun-red-card-european-lawmakers/) for U.S. forward Folarin Balogun, who had [received a red card](https://time.com/partner-content/prediction-markets/red-card-reversal-turns-usa-belgium-into-world-cup-grudge-match/), after [Trump’s reported intervention](https://time.com/article/2026/07/06/trump-inserts-himself-in-world-cup-call-with-global-blowback/). Infantino, who is up for reelection as head of FIFA next year, has faced criticism from UEFA over his close ties to Trump and what critics say is a lack of transparency in FIFA’s decision-making. Infantino was scrutinized after accompanying Trump on a Gulf tour instead of attending the start of the FIFA Congress in 2025, prompting a UEFA-led walkout. Ahead of this year’s World Cup, some European soccer officials and politicians called for fans to [boycott the U.S. games](https://time.com/7358117/fifa-world-cup-boycott-soccer-football-trump-infantino/), citing both Infantino’s [friendship with Trump](https://time.com/7302062/trump-boos-fifa-club-world-cup-chelsea-palmer-infantino-controversy/) and the Trump Administration’s immigration and foreign policies. Infantino was also criticized for presenting Trump with a newly-created FIFA Peace Prize, and for opening a FIFA office in New York’s Trump Tower, a property owned by the Trump Organization. “FIFA, Donald Trump’s favorite corrupt racketeering enterprise in world sports, is now going directly into business with the Trump family!” the House Judiciary Democrats [posted](https://x.com/HouseJudiciary/status/2082158656146100275?s=20) on X. “Apparently the fake Peace Prize and giant lease with Trump Tower weren’t enough—now Infantino performs a kickback hat trick by pursuing a multibillion-dollar deal with Jared Kushner’s brother to sell ownership stakes in the World Cup to private investors.” The Democratic committee members said the proposal was an example of “more oligarch corruption” after FIFA’s use of dynamic pricing helped push World Cup ticket prices to unprecedented levels. Earlier this week, the group of lawmakers [called on Infantino](https://democrats-judiciary.house.gov/media-center/press-releases/ranking-member-raskin-calls-foul-on-fifa-president-infantino-for-trump-bribery-and-corruption-scheme) to sit for an interview about “deceptive” ticket practices and alleged corruption between him and Trump. [Andy Burnham](https://time.com/article/2026/07/20/andy-burnham-uk-prime-minister-day-one-trump-invitation/), who [became British Prime Minister](https://time.com/article/2026/06/29/andy-burnham-uk-prime-minister-plans-economics-devolution-backlash/) earlier this month after [Keir Starmer resigned](https://time.com/article/2026/06/22/uk-prime-minister-keir-starmer-resignation-reports-burnham-leadership-potential/), also criticized the proposal. “Let me say this very directly. Football does not belong to investors. It belongs to the people who fill the stands and who stand on the touchline week in, week out, rain or shine,” Burnham [posted](https://x.com/andyburnham/status/2082181244830339117) on X. “The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell. Dress the deal up however you like. Once you have sold a piece of it, you have sold out. “Football belongs to the fans. It always has, and it always will.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/article/2026/07/29/fifa-forward-enterprise-world-cup-commercial-invest-infantino-trump-kushner/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/article/2026/07/29/fifa-forward-enterprise-world-cup-commercial-invest-infantino-trump-kushner/"},"headline":"FIFA Draws Fury Over Plan to Sell Stakes in World Cup","datePublished":"2026-07-29T10:30:00.000Z","dateModified":"2026-07-30T10:30:11.000Z","description":"A plan to open the biggest sporting tournament, in part, to private investors has drawn widespread backlash from soccer associations and politicians around the world.","url":"https://time.com/article/2026/07/29/fifa-forward-enterprise-world-cup-commercial-invest-infantino-trump-kushner/","keywords":["Soccer","FIFA","FIFA World Cup","News Desk","overnight"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt878aafa5d705c16b/6a69d4c4077c4365822b9331/Infantino_Trump.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Miranda Jeyaretnam","jobTitle":"Reporter","url":"https://time.com/author/miranda-jeyaretnam/"}],"articleSection":"Sports","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt878aafa5d705c16b/6a69d4c4077c4365822b9331/Infantino_Trump.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Infantino Trump.jpg","caption":"","creditText":"Alex Pantling—FIFA/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/sports/","name":"Sports"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/soccer/","name":"Soccer"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/article/2026/07/29/fifa-forward-enterprise-world-cup-commercial-invest-infantino-trump-kushner/","name":"FIFA Draws Fury Over Plan to Sell Stakes in World Cup"}}]}] ```