FIFA Plans to Sell World Cup Stakes to Private Investors via New FFE Holding
FIFA confirms plan to sell World Cup stakes through a newly proposed Fifa Forward Enterprise (FFE), offering investors around 20% and raising governance and format questions.
FIFA confirms formation of FFE
FIFA announced on July 28, 2026, that it plans to establish a new company, Fifa Forward Enterprise (FFE), to hold the commercial rights to its major tournaments. The federation said the move would need approval from the FIFA Congress and Council and that FIFA would remain the majority shareholder. The proposal, intended to centralize commercial rights for the men’s World Cup, the women’s World Cup and the Club World Cup, was confirmed in response to reporting by The Times.
Proposed share sale and member association stakes
According to FIFA, private investors would be able to acquire roughly 20 percent of FFE, while the organization’s 211 member associations could also be allocated shares. Member federations would have the option to retain or sell those stakes, creating a tradable equity component linked to tournament revenues. FIFA stressed that any transfer of rights or equity would be subject to internal approval processes and governance safeguards before taking effect.
UEFA issues strong public rebuke
The European governing body, UEFA, responded with sharp criticism of the plan, calling it a boundary that football institutions should never cross. UEFA argued that the “soul and leadership” of football are not goods to be sold, and warned that opacity over who benefits financially would be unacceptable. The reaction from UEFA highlights a deep concern among continental federations about ceding control over core sporting assets to private capital.
Names and financial advisers tied to the investor group
Reporting and FIFA confirmation identified Thrive Eternal, a holding linked to technology investor Joshua Kushner, as the proposed lead for the investor group. Joshua Kushner is the brother of Jared Kushner, who is married to Ivanka Trump, and reporting says figures connected to the Trump administration were involved in discussions. FIFA said it is working with the investment bank J.P. Morgan to structure the transaction and that investment plans have been under development for several months and remain subject to approval.
Potential incentives and pressures on tournament format
Analysts and officials fear a deal of this sort would create financial incentives to change the World Cup’s structure to maximize returns. Observers point to possibilities such as expanding the number of teams, staging tournaments more frequently, or introducing new commercial tie-ins to boost revenue. FIFA itself acknowledged that any new ownership structure could provoke debates about participant numbers and scheduling, since greater frequency or larger tournaments typically increase commercial yield.
Infantino’s role and historical precedents
The proposal also raises questions about Gianni Infantino’s future role at the top of the sport. FIFA confirmed that, if the model is implemented, Infantino—whose current tenure is expected to run until 2031—could assume a leadership position in the new company as commissioner or chief executive after his presidency. Reports say such a role could command a high, multi-million-dollar annual compensation package. The idea revisits plans first floated in 2018, when Infantino pursued a commercial deal to globalize a club competition and a world-wide Nations League with private backers; that earlier bid failed to secure sufficient support within FIFA.
Political scrutiny and calls for transparency
The involvement of U.S.-linked investors and persons close to the Trump administration has already prompted political scrutiny. U.S. lawmakers and advocacy groups are reported to be seeking clarification and greater transparency about communications between FIFA and external governments. Some Democratic members of Congress have demanded that Infantino appear before committees to disclose interactions with the Trump administration, reflecting concern that sports governance could intersect with political influence.
The coming weeks and months are likely to see formal proposals, member votes and legal and financial due diligence that will test FIFA’s ability to reconcile commercial ambitions with governance standards. Stakeholders across the game—national associations, continental confederations, clubs, players and fans—are expected to press for clarity on ownership, transparency, and the long-term consequences for how international football is organized and monetized.
