FIFA plans to sell minority stake in World Cup commercial rights to investors, triggering UEFA backlash
The FIFA Forward Enterprise entity, valued at $20 billion, would bundle media, sponsorship, ticketing and licensing rights for men's and women's World Cups and the Club World Cup. Private investors led by Joshua Kushner's Thrive Eternal could acquire up to 20–30 percent, raising up to $4.2 billion.
FIFA confirmed on 28 July 2026 that it will seek approval for a new commercial subsidiary, FIFA Forward Enterprise (FFE), that would package the governing body's tournament rights and sell a minority stake to outside investors.
The FFE structure
Under the plan, FFE would consolidate all commercial activities, media rights, sponsorship, ticketing and licensing, for the men's World Cup, women's World Cup and Club World Cup. The entity is initially valued at $20 billion, and FIFA would retain majority ownership and exclusive control over the sporting calendar, competition regulations and governance decisions. A stake of 20 to 30 percent would be offered to a group of external investors, with the goal of raising up to $4.2 billion later this year. The federation said the 211 member associations would each receive a small equity stake in FFE, which they could keep or sell.
The investor group and Trump links
The investor consortium is expected to be led by Joshua Kushner, the technology investor and brother of Jared Kushner, who is married to former president Donald Trump's daughter Ivanka. Kushner's fund Thrive Eternal has been in talks to anchor the group, according to a FIFA spokesperson. Investment bank JPMorgan is advising FIFA on the process. Reports in British newspapers, citing people familiar with the matter, said the U.S. administration of Donald Trump had been consulted regarding the plan.
UEFA's reaction
The European confederation UEFA issued an unusually sharp statement shortly after the reports emerged.
A line is being crossed that the leading institutions of football must never cross. UEFA takes this matter extremely seriously. That should also be the case for all national football associations. The soul and the governance of football are not assets to be traded — especially not when there is a complete lack of transparency about who stands to benefit financially. None of us owns football. It is not for FIFA to sell it.
Promised funding for member associations
To secure support among its 211 member federations, FIFA said it would sharply increase development payments. The existing FIFA Forward programme, which currently disburses up to $8 million per member association per cycle, would rise to $20 million for the 2027–2030 cycle and then grow further. A new initiative, FIFA Fast Forward, would provide each association with a one-time grant of up to $20 million for special projects such as stadiums or national training centres. Overall, FIFA said it aimed to invest more than $10 billion in global football development over the next four years, partly funded by the new investment.
- FFE valuation
- 20 $ billion
- Investment sought (max)
- 4.2 $ billion
- Development pledge (4 years)
- 10 $ billion
- FF cycle per member (old)
- 0.008 $ billion
- FF cycle per member (new)
- 0.02 $ billion
- Fast Forward one-time grant
- 0.02 $ billion
Next steps
FIFA stressed that the plan requires approval. It will proceed only if a majority of member associations back it and the FIFA Council endorses the necessary regulatory changes. Infantino, whose term is limited to 2031 under current statutes, could later serve as commissioner or chief executive of FFE after leaving the presidency, though a spokesperson said that possibility had not yet been discussed. British media suggested the deal could intensify pressure to expand the World Cup field or increase the tournament's frequency.
