A $20 billion (£15 billion) plan to place the World Cup's commercial empire inside a new company backed by private investors has triggered one of the fiercest clashes in modern football governance.
FIFA President Gianni Infantino wants to establish FIFA Forward Enterprise, or FFE, which would combine the organisation's broadcasting, sponsorship, licensing and ticketing rights with the operational delivery of tournaments such as the men's and women's World Cups and Club World Cup.
UEFA responded with an unusually direct attack, warning that the proposal crossed a line and accusing FIFA of treating the sport as something it could sell. European football associations are now expected to hold an emergency meeting, with a possible World Cup boycott reportedly among the measures some nations are prepared to discuss.
What Is FIFA's $20 Billion World Cup Plan?
Under the proposal, FFE would become a FIFA-owned commercial and events subsidiary valued at approximately $20 billion (£15 billion).
FIFA would seek to raise up to $4.2 billion (£3.2 billion) by allowing outside investors to purchase minority, non-controlling stakes in the company. Reports indicate that investors could collectively acquire around 20% of the new operation.
Thrive Eternal, a permanent-capital company launched by Joshua Kushner, is expected to lead the proposed investor group. Kushner is the brother of Jared Kushner, who is married to US President Donald Trump's daughter Ivanka. JPMorgan has been appointed to work with FIFA on the investment process.
FIFA insists the investors would not be buying a stake in FIFA itself. They would instead hold part of the subsidiary managing its commercial rights and tournament operations.
Why Has UEFA Reacted So Strongly?
UEFA's concern is that separating FIFA's commercial and operational activities into an investor-backed company could blur the boundary between football governance and profit-making.
Although FIFA says it would retain exclusive control over sporting rules, competition formats and the international calendar, FFE would handle the assets that generate much of the organisation's income. That includes television deals, sponsorships, tickets and licensing.
UEFA also criticised what it described as a lack of transparency over who could benefit financially. The English Football Association was reportedly unaware of the proposal before details emerged publicly, despite the scale of the planned restructuring.
Relations between UEFA and FIFA were already strained before the announcement. UEFA president Aleksander Čeferin did not attend the 2026 World Cup final amid disagreements over FIFA's governance decisions.
Could the Plan Change Future World Cups?
FIFA says private investors would have no authority over competition formats, host selection or the football calendar.
However, investors committing billions of dollars would expect the value of FFE to rise. That could create commercial pressure to generate more revenue from tickets, broadcasting, sponsorships and additional competitions, even without investors formally controlling sporting decisions. This is an inference based on the proposed financial structure and the returns private investors would normally seek.
Reuters Breakingviews calculated that, assuming investors sought annual returns of around 15%, FFE might need to increase in value from $20 billion (£15 billion) to nearly $37 billion (£28 billion) by 2030.
That potential pressure is why supporters may fear higher ticket prices, more frequent tournaments and an increasingly crowded football calendar.
Why Does FIFA Believe the Deal Is Necessary?
FIFA argues the proposal would distribute more of football's wealth to its 211 member associations.
Each federation could receive up to $20 million (£15 million) in optional one-off funding for major projects. FIFA also wants to increase regular development payments from $8 million (£6 million) to $20 million per association during the 2027-2030 cycle.
The organisation expects revenue from its 2023-2026 cycle to exceed $15 billion (£11 billion), nearly twice the amount generated during the previous four-year period. Infantino believes the new company could turn that commercial growth into more than $10 billion (£8 billion) in football development funding.
The proposal still requires support from a majority of FIFA's member associations and approval from the FIFA Council. Until then, no stake has been sold and the structure remains under consultation.
The battle is therefore only beginning. FIFA presents the plan as a way to share football's wealth. UEFA sees it as the moment the World Cup moves dangerously closer to becoming an investment product.
