FIFA proposed creating a $20 billion commercial subsidiary called FIFA Forward Enterprise on Tuesday, July 29, 2026, aiming to raise $4.2 billion by selling minority stakes to private investors including Joshua Kushner’s Thrive Eternal. The surprise plan immediately sparked fierce backlash from European governing body UEFA.
Football’s global governing body is moving to sell minority equity stakes in the World Cup and other marquee tournaments. Under the proposals detailed on Tuesday, FIFA announced a structural overhaul designed to monetize its flagship competitions through external private investment. The plan centers on the creation of a commercial subsidiary called latimes.com, which would manage broadcast rights, sponsorship, ticketing, licensing, and tournament delivery for both the men’s and women’s World Cups alongside the expanded Club World Cup.
Working alongside financial advisers at J.P. Morgan, FIFA has valued the new commercial entity at $20 billion. The organization plans to sell non-controlling minority shares of up to 20 percent to raise approximately $4.2 billion later this year. Private backing is expected to be led by thesouthafrican.com, a fund launched by Joshua Kushner, whose brother Jared Kushner is a son-in-law of United States President Donald Trump. Liberty Media CEO Greg Maffei has also assisted as a commercial adviser on the enterprise.
UEFA Condemns Commercialization and Demands Transparency
European football’s governing body reacted with immediate hostility to the announcement, issuing a scathing statement warning that the project crosses boundaries that sporting institutions must protect. UEFA stated that the core governance of the sport cannot be treated as a tradable commodity, particularly given what it characterized as a lack of financial transparency.
“This crosses a line that football’s governing institutions should never cross. UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game. The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially.”
UEFA, via official statement
The European body emphasized that none of us are the owners of football, asserting that the game belongs to its global community rather than a governing bureaucracy.
Financial Incentives and the Push for Member Approval
To secure backing from its 211 national member associations, FIFA has structured the financial rollout to offer direct monetary benefits. Member federations will have the opportunity to acquire stakes in the enterprise or cash out immediately. According to khelnow.com, each member association could receive a one-off capital payment of $20 million. Additionally, FIFA outlined expansions to its development grants under the latimes.com.
| Development Funding Cycle | Projected Allocation Per Member Association |
|---|---|
| 2027–2030 World Cup Cycle | $20 million |
| Following Cycle 1 | $22 million |
| Following Cycle 2 | $24 million |
FIFA President Gianni Infantino defended the initiative as a measure to broaden global participation and democratize the sport. In a formal statement, Infantino argued that commercial value generated by the sport must be leveraged to support sustainable, inclusive development in every corner of the world. The organization maintains that it will retain majority board representation and exclusive authority over sporting regulations, match calendars, and governance.
Parallels to Prior Privatization Attempts and Future Leadership Speculation
Speculation has also surfaced regarding Infantino’s long-term administrative future. Reports indicate that the new commercial subsidiary could eventually establish a lucrative CEO-like commissioner role for Infantino once his presidency concludes.
Before any of these structural changes take effect, the plan requires formal approval from the sports.yahoo.com and a subsequent vote among all 211 member nations.
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