FIFA plans $20bn subsidiary for World Cup, UEFA and PM Burnham condemn Kushner-linked investment

FIFA's commercial proposal

FIFA announced on Tuesday it will form a subsidiary, FIFA Forward Enterprise (FFE), to consolidate commercial rights (broadcasting, sponsorship, ticketing and licensing) with the operational delivery of its men's, women's and youth tournaments. The Swiss-based non-profit governing body said it would retain exclusive control and majority board representation, while inviting minority non-controlling investments. FFE would seek to raise $4.2 billion later this year based on an initial equity valuation of $20 billion and would work with J.P. Morgan. Each of the 211 member associations could access up to $20 million in one-off capital, and total planned development funding could exceed $10 billion over the next four years.

The Kushner connection

Thrive Eternal, an investment vehicle launched in April this year by Joshua Kushner, is expected to lead the proposed investor group. Joshua is the brother of Jared Kushner, son-in-law of US President Donald Trump. The men's World Cup that ended this month deepened ties between Trump and FIFA president Gianni Infantino, who awarded Trump a 'FIFA peace prize' in December and leased office space in New York's Trump Tower. FIFA denied reports that Infantino could become commissioner or CEO of FFE after his current term, saying no such role had been discussed.

This is about the democratization of football worldwide.

UEFA's rebuke

UEFA issued a furious statement hours after the plan became public. The European governing body, comprising 55 of FIFA's 211 members, declared that the proposal "crosses a line that football's governing institutions should never cross."

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.

UEFA said it took the reports "extremely seriously" and urged every national association, league, club, player, supporter and government to do the same.

Political and fan opposition

UK Prime Minister Andy Burnham, who took office this month, joined the chorus of disapproval. Writing on social media, he called the World Cup "not a product" and insisted that football belongs to fans.

Let me say this very directly. Football does not belong to investors. It belongs to the people who fill the stands and who stand on the touchline week in, week out, rain or shine. The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone's to sell. Dress the deal up however you like. Once you have sold a piece of it, you have sold out. Football belongs to the fans. It always has, and it always will.

Democrats on the House Judiciary Committee accused Infantino of performing a "kickback hat trick" by pursuing a multibillion-dollar deal with Trump's extended family, while ranking Democrat Jamie Raskin had already demanded the FIFA president testify and provide documents about ties to the Trump administration. The Football Supporters Europe group demanded Infantino resign, and the English Football Association said it had no prior knowledge of the plan when details leaked.

What happens next

FIFA said it would present the plans to its council soon, and any move to create FFE requires approval from the 211 member associations. Infantino is seeking re-election for a four-year term next year. The organization maintained that all net profits from FFE would be reinvested in football and that the subsidiary would unlock additional development funding, building on a previous plan to distribute about $2.7 billion to federations over the 2027–2030 cycle.