FIFA proposes $10bn World Cup venture with private investors, drawing EU, UEFA and national federation backlash

FIFA has proposed creating a private company, FIFA Forward Enterprise (FFE), to bundle all commercial rights and tournament operations and sell minority stakes to outside investors. The plan, announced in a letter from FIFA president Gianni Infantino to member federations, promises to unlock over $10 billion for football development over four years, with an initial capital raise of $4.2 billion in 2026. Federations that back the scheme by 19 September 2026 would each receive $20 million under the new FIFA Fast Forward Programme, with the FFE slated to launch on 1 January 2027. FIFA insists it would retain majority board control and exclusive authority over governance, competitions, calendar and regulatory decisions.

USD 20 million per member federation, a funding opportunity reserved solely for those member federations that wish to participate.

European football erupts in opposition

The proposal drew immediate and furious condemnation from UEFA and major European national federations. UEFA said the idea crosses “a line that institutions governing football should never cross.” Hans-Joachim Watzke, vice-president of the German Football Federation and a member of UEFA's executive committee, told Kicker that European football is united in opposition.

Many European football stakeholders consider FIFA's plans as an absolute attack on football. I share that position. A red line has been crossed here.

Watzke added that he had discussed the matter with UEFA president Aleksander Ceferin and other colleagues, confirming broad consensus among UEFA member federations. The English Football Association said it was “deeply concerned” and had received no prior notice or substantive details, citing an “absence of process and governance.” French federation president Philippe Diallo also expressed “many questions” and called for more transparent decision-making.

Clubs and the EU weigh in

The European Football Clubs Association, representing over 850 clubs, issued a statement lamenting that it learned of the plan through the media and insisted that any proposal of this magnitude required full consultation with clubs.

We insist on the need for calm and thorough consultation on all matters affecting the football ecosystem, as well as the establishment of more rigorous and transparent governance processes to guarantee the sustainability of football.

European Union Commissioner Glenn Micallef took to social media platform X to warn that the “relentless commercialisation of football has become harmful” and that the plan threatens what makes the sport the world's most popular.

These proposals raise significant competition law issues.

Financial enticement and tight deadline

Federations have until 19 September 2026 to decide whether to participate. Infantino’s letter, dated 28 July, positions the $20-million-per-federation payout as an immediate reward for backing the scheme, with funds available from 1 January 2027. FIFA would retain exclusive control of the FFE through a majority board presence, while the outside investment, reported to be around 20%, would be managed by a consortium that includes the recently launched Thrive Eternal fund of Joshua Kushner and the investment bank J.P. Morgan.

Trump connection and governance fears

Joshua Kushner is the brother of Jared Kushner, son-in-law of US president Donald Trump. FIFA president Infantino has cultivated a close relationship with Trump, who according to L’Express personally called Infantino during the World Cup to request the cancellation of American player Folarin Balogun’s red card before a round-of-16 match against Belgium. The involvement of a fund tied to the Trump family circle has intensified concerns about conflicts of interest and the erosion of football’s non-profit governance. Several federations and the EU have made clear that they will demand full transparency and a broad, inclusive debate before any transfer of the sport’s most valuable commercial assets to private hands.