The International Federation of Association Football (FIFA) has proposed selling stakes in the World Cup and other events to private investors, triggering a strong backlash from the Union of European Football Associations (UEFA).
Under the plan unveiled by FIFA on Tuesday (3 October), a $20 billion subsidiary would be created to manage the World Cup and other tournaments. FIFA said it would retain a majority stake in the new entity, named FIFA Forward Enterprise, and offer minority stakes to outside investors to raise up to $4.2 billion.
The proposal still requires a vote by FIFA's 211 member nations. If successful, the proposed investor group is expected to be led by a company founded by Joshua Kushner – brother of Jared Kushner, son-in-law of former US President Donald Trump – according to FIFA.
UEFA said the proposal 'crosses the line that football governing bodies should never cross'. The European football body stressed: 'The soul and institutions of football governance are not assets to be bought and sold – especially without transparency about who would benefit financially. None of us own football. It is not for FIFA to sell.'
FIFA recently hosted the 48-team World Cup in the United States, Canada and Mexico – the largest tournament in history. It is one of the wealthiest sports organizations globally, generating billions primarily from broadcast rights, sponsorships, and other commercial deals tied to the World Cup.
However, FIFA argues the proposal could boost funding to expand access to football and enhance global participation, with all net profits reinvested into the sport. FIFA President Gianni Infantino stated: 'Football is the most popular sport in the world. Part of this sport has turned that popularity into significant commercial value – and we welcome that success and want it to continue, because it elevates the entire sport. Our mission is to ensure the rest of football grows alongside it: FIFA exists to support sustainable, inclusive development in every corner of the world.'
FIFA insists that besides retaining sole control over the subsidiary, it will maintain authority over football governance, tournaments, match schedules, and regulatory and sporting decisions.
New UK Prime Minister Andy Burnham also joined the criticism on social media: 'The World Cup is not a product. It is the greatest tournament in world sport, and it never belonged to anyone to sell. No matter how you dress up the deal, once you sell a piece of it, you have sold it cheap.'
