Zurich, Switzerland – FIFA has abandoned its controversial plan to sell stakes in the World Cup to private investors, following fierce opposition from confederations, senior staff, and players’ unions. The proposal, unveiled by FIFA President Gianni Infantino, would have created a new subsidiary called FIFA Forward Enterprise (FFE) to consolidate revenue-generating operations and bring in outside investors, led by venture capitalist Joshua Kushner. However, the plan unraveled within weeks, with the Union of European Football Associations (UEFA) threatening to boycott World Cups if it proceeded.
UEFA led the charge against the proposal, issuing a statement that said, “We unanimously and unequivocally reject FIFA’s proposal to transfer ownership interests in the World Cup and other FIFA competitions to private investors. The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies.” UEFA’s stance was echoed by CONCACAF, the AFC, the English FA, and the global players’ union FIFPRO, all of which raised concerns about a lack of transparency and the commercialization of the sport. FIFA’s own senior staff, including Chief Operating Officer Kevin Lamour and senior adviser Carlos Cordeiro, also spoke out against the plan, with Cordeiro resigning in protest.
The proposal had offered FIFA’s 211 member associations a series of upfront payments totaling up to $86 million per association, in exchange for their approval. However, the mounting opposition, reminiscent of past failed initiatives like the SoftBank investment deal and the biennial World Cup proposal, forced Infantino to backtrack. In a statement, he said, “Having listened carefully to all the views, it has become clear that the project has created divisions… this proposal will not proceed.” The decision underscores the strength of opposition to the privatization of football’s most prestigious tournament.
