FIFA has announced plans to open the World Cup’s commercial operations to private investment through a new subsidiary, drawing immediate political backlash and threats of a boycott from European nations. The governing body confirmed it intends to create a company called FIFA Forward Enterprise (FFE), which would oversee commercial rights and operational delivery of the World Cup and Club World Cup, among other tournaments.
Private investors would take minority, non-controlling stakes in FFE, with FIFA retaining ownership and control. The organisation said an initial capital raise of $4.2 billion would fund an immediate injection of up to $20 million per member association through a voluntary programme called the FIFA Fast Forward Programme.
Who Is Behind the Investment Group
The investor group is set to be led by Thrive Eternal, a venture capital firm founded earlier this year by Joshua Kushner — brother of Jared Kushner, who is married to Ivanka Trump. J.P. Morgan is also involved in developing the venture, according to reporting cited by multiple sources.
That connection has drawn sharp criticism. Democratic Congressman Jamie Raskin, ranking member on the US House Judiciary Committee, accused FIFA of going into business with the Trump family. The Committee called FIFA president Gianni Infantino to appear before it on Monday over separate allegations that FIFA ran a sustained campaign to obtain special treatment from the US government.
What FIFA Says the Plan Offers
Infantino framed the proposal as the democratisation of football worldwide. FIFA’s announcement emphasised the financial upside for member associations, noting that per-association development funding would rise from roughly $8 million to $20 million between 2027 and 2030, climbing further to $24 million in the 2035–2038 cycle.
The plan still requires approval from both FIFA’s national member associations and the FIFA Council. No vote date has been set.
European Nations Signal Resistance
The proposal has not been well received everywhere. European football nations are reportedly in discussions about boycotting the World Cup should Infantino press ahead. Critics warn that private investors seeking financial returns could push FIFA to expand competition calendars and prioritise commercial outcomes over sporting ones.
FFE is valued at around $20 billion, per multiple sources. Between 20% and 30% of shares could be sold to outside investors, according to Spanish football outlet Doble Amarilla.
The Stakes for World Football
The financial pull for smaller, less wealthy associations will be significant given the funding increases on offer. But opposition is already forming among more powerful federations concerned about the long-term direction of the sport under a commercially driven structure.
FIFA has not confirmed a timeline for any formal vote on the plan.
