Key Takeaways
- FIFA president Gianni Infantino is reportedly pushing a plan to spin off World Cup and Club World Cup commercial rights into a new $20 billion entity, FIFA Forward Enterprise, and sell a 20–30 percent stake to private investors led by Joshua Kushner's Thrive Capital while giving each of FIFA's 211 member associations a tradable stake worth about $20 million.
- UEFA blasted the proposal as crossing "a line that football's governing institutions should never cross," arguing that "the soul and governance of football are not assets to trade" and warning of opaque financial gains and unacceptable conflicts of interest.
- The deal, advised by JPMorgan and former Liberty Media chief Greg Maffei, has already produced non-binding investor agreements and raised concerns that Infantino could later run FFE in a highly paid "commissioner" role, a scenario FIFA denies has been discussed even as it launches a formal consultation process.
UEFA has made it very clear it's not happy FIFA president Gianni Infantino is reportedly moving to sell a large minority stake in a new entity responsible for running the World Cup and Club World Cup.
According to The Athletic, Joshua Kushner's Thrive Capital is expected to lead the charge in making the deal happen, which involves the formation of FIFA Forward Enterprise (FFE), where World Cup broadcast rights, sponsorship, ticketing, and licensing across men's, women's, and youth soccer will be housed.
"This crosses a line that football's governing institutions should never cross," UEFA said in a statement. "UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game."
It went on: "The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA's to sell."
FIFA reportedly intends to sell a 20-30 percent stake in FFE, with the entity valued at roughly $20 billion. JPMorgan is advising FIFA on the transaction, working to raise up to $4.2 billion this year.
Under the blueprint, which has been circulated among senior FIFA figures and potential investors under non-disclosure agreements, FIFA would reportedly retain a majority stake. Private investors would initially acquire between 20 percent and 30 percent, while FIFA's 211 member associations would collectively hold around 20 percent — each receiving a stake worth approximately $20 million that they could keep or sell.
FIFA confirmed to The Athletic that Kushner's Thrive Capital is expected to lead the investor group. Kushner, 41, is the younger brother of Jared Kushner, Donald Trump's son-in-law. FIFA separately confirmed that Jared Kushner is not an investor in the deal.
Sources said it was considered politically more sensitive for Jared Kushner to take a leading role, given his longstanding ties to Infantino stretching back to his involvement in the successful US bid for the 2026 FIFA World Cup.
According to The Athletic, Infantino outlined the FFE concept to all 211 member associations at a meeting in Manhattan on July 18, promising to "unleash the commercial potential and opportunity that FIFA has."
FIFA is reported to have launched a formal consultation process on Tuesday (July 28). Some non-binding agreements setting out terms are already said to have been signed with potential investors, and former Liberty Media chief Greg Maffei is advising FIFA alongside JPMorgan.
Sources told The Athletic that Infantino, 56, is expected to be positioned as FFE's "commissioner" once his final presidential term ends — a role described internally as carrying pay on par with NFL commissioner Roger Goodell's roughly $64 million a year, or about ten times his current salary.
However, FIFA pushed back, telling The Athletic: "This has never been discussed. However, the FIFA president and the FIFA administration will and must have leading roles in this entity — if approved — to always be in control of any FIFA subsidiary in accordance with the statutes and regulations for the benefit of FIFA member associations."
