FIFA unveils plan to sell World Cup stakes, UEFA: 'Not for sale'
New commercial entity FIFA Forward Enterprise would open doors to private investors, as European federation warns of losing football's soul.
New commercial entity FIFA Forward Enterprise would open doors to private investors, as European federation warns of losing football's soul.
The International Federation of Association Football (FIFA) published a plan on July 28, 2026, to establish a commercial company, FIFA Forward Enterprise (FFE), which would manage all commercial rights related to its competitions and open the door to private investors. The news was first reported by the British The Times, with details later provided by France Info and Croatian Tportal.
According to a statement reported by France Info, FIFA intends to consolidate all commercial rights, broadcasting, sponsorship, ticketing, and licensing, with the operational execution of tournaments through the newly established FFE. With a majority representation on the board, FIFA would retain exclusive control, while third parties could make minority investments without control.
As reported, external investors would acquire an initial stake of approximately 20 percent. FFE would raise $4.2 billion this year already, and through the new FIFA Fast Forward Programme, secure over $10 billion over the next four years for football development. Investment bank J.P. Morgan and fund Thrive Eternal are working on the project, with Thrive Eternal expected to lead a group of potential investors. The founder of Thrive Eternal is Joshua Kushner, brother of Jared Kushner, son-in-law of former US President Donald Trump.
According to Tportal, FIFA President Gianni Infantino could personally benefit financially from the entire project to the tune of tens of millions of euros. France Info adds that Infantino, who currently receives several million Swiss francs annually, could become the director of FFE and thus multiply his income.
The European Football Federation (UEFA), led by President Aleksander Čeferin, reacted strongly to FIFA's announcement. In a statement reported by Tportal, UEFA said:
"This crosses a line that football governing bodies should never cross. None of us owns football. The World Cup is not FIFA's asset to be traded. The soul of football and the way it is governed are not commodities for sale, especially when it is unclear who would financially benefit from it."
Additionally, UEFA called on national associations, leagues, clubs, players, and fans to oppose such commercialization. They believe that selling ownership stakes in the World Cup would long-term undermine the existing system of global football governance and further burden the already crowded international calendar.
Although there are no direct reactions from the Croatian Football Federation, Croatia, as a member of both FIFA and UEFA, is potentially affected by any major change in global football governance. A model in which private capital enters the ownership structure of the World Cup raises a number of questions about the future independence and influence of smaller associations like Croatia's.
The proposal still needs to be voted on by the FIFA Council. If accepted, it will be the biggest transformation of the world football federation's business since its founding.
