FIFA President Gianni Infantino has set a Sept. 19 deadline for the organization's 211 member federations to accept a $20 million offer each as part of a plan to sell stakes in the World Cup to private investors. The proposed $20 billion FIFA subsidiary has drawn sharp criticism from international soccer organizations, with European soccer body UEFA calling it a scheme with significant and growing opposition.
The initiative is being financed by Joshua Kushner, brother of Jared Kushner and son-in-law of former President Donald Trump. This move is seen as Infantino's latest alignment with individuals connected to the Trump administration, following the creation of a FIFA Peace Prize awarded to Trump and efforts to influence player eligibility for the World Cup.
Infantino described the venture in a letter as a "singular and unique funding opportunity" to create a FIFA subsidiary, 20% owned by private investors, which would manage the body's competitions, including the World Cup and Club World Cup. He stated it is his duty to present such opportunities to FIFA members.
The proposal, backed by Kushner's investment firm Thrive Capital, has been met with immediate opposition from UEFA, which stated that "the World Cup is not FIFA’s to sell." UEFA, along with its president Aleksander Čeferin, has expressed strong opposition to the project, with one potential tactic being a boycott of FIFA competitions, similar to the successful opposition to Infantino's proposal for a biennial World Cup.
Giovanni Malagò, president of Italian soccer, described the situation as "total conflict" following a video conference between UEFA and its five largest member federations: England, Spain, Italy, Germany, and France.
This private equity plan is the latest in a series of ambitious projects by Infantino, who has been criticized for acting as an executive leader without consulting major stakeholders. Previous proposals, including a $25 billion private equity plan in 2018 for new men's competitions, were also met with resistance from UEFA.
Continental soccer bodies, including CONCACAF and the Asian Football Confederation, have also expressed concern over the lack of due process and transparency. They noted disappointment that such a significant matter became public before they had a chance to review and discuss it.
Concerns have been raised that inviting private investors could incentivize FIFA to further commodify the World Cup, potentially impacting existing competitions like the Champions League and European Championship by increasing the frequency of World Cups and adding more teams.
Under the proposal, member federations that approve the FIFA Forward Enterprise subsidiary would each receive $20 million in funding tied to the men's 2030 World Cup. This process, led by J.P. Morgan, would bring a pool of diverse international investors alongside Thrive Capital. Federations that reject the plan would receive their previously promised $10 million over the next four years.
UEFA criticized the rushed deadline for the offer, stating, "FIFA cannot continue to use our sport to enrich themselves and their friends." Many member federations rely on FIFA funding, and their voting power, under FIFA's one-member, one-vote system, can outweigh that of major soccer nations.
The plan also faced opposition in Britain, with Prime Minister Andy Burnham stating, "Football does not belong to investors." British lawmakers have previously intervened to block projects seen as threatening the sport's integrity, such as the European Super League.
Infantino, who has appeared set for unopposed reelection as FIFA president, has previously used promises of increased FIFA funds to member federations as a key part of his election campaigns. Some observers suggest a potential long-term role within a FIFA subsidiary could align with his ambitions.