FIFA's $20bn plan to sell World Cup stake to Kushner fund sparks UEFA fury
FIFA announced a plan to create a $20bn commercial subsidiary and sell a minority stake to private investors led by Joshua Kushner's Thrive Eternal, drawing sharp condemnation from UEFA as 'crossing a line'.
The announcement
FIFA confirmed on Tuesday that it plans to create a new commercial subsidiary, FIFA Forward Enterprise (FFE), consolidating all its broadcast, sponsorship, ticketing and licensing rights for the men's and women's World Cups and the Club World Cup. FFE would be valued at $20 billion, with FIFA retaining a majority stake and selling up to 21% to private investors to raise $4.2 billion this year. JP Morgan has been hired as FIFA's lead advisor on the transaction.
The Kushner connection
The proposed investor group will be led by Thrive Eternal, a fund launched in April by Joshua Kushner, whose brother Jared is the son-in-law of US President Donald Trump. The plan was first reported by the Financial Times and The Times of London. Infantino's ties to Trump deepened during the World Cup that just concluded in the United States, Canada and Mexico. The Guardian reported that FIFA's revenues from that tournament exceeded $15 billion, a figure that appears to have emboldened Infantino to seek further commercialisation.
Funding promises
FIFA said that proceeds from the stake sale would unlock a wave of development funding for its 211 member associations, with total planned spending exceeding $10 billion over the next four years. Each federation would be eligible for an optional one-off capital injection of $20 million, alongside regular grants that would rise from the current $8 million per cycle to $24 million by 2035–2038. Infantino framed the move as a step toward wider distribution of football's wealth.
- Current (2023–2026)
- 8 $M
- 2027–2030
- 20 $M
- 2031–2034
- 22 $M
- 2035–2038
- 24 $M
UEFA fires back
Within hours, European governing body UEFA issued a statement accusing FIFA of overreach.
This 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's 55 members form the largest voting bloc among the 211 associations that must approve the plan.
Governance and tension
Infantino defended the proposal.
This is about the democratization of football worldwide.
The Times reported that Infantino could become commissioner or CEO of FFE from 2031. FIFA's statement did not address that but said investors would have no operational role and that the organisation retains "exclusive authority" over football governance. The row follows a World Cup already marked by friction between UEFA and FIFA, including a public dispute over the reversal of a red card after Trump's intervention.
