FIFA on Friday said it would not move forward with a plan to create a $20 billion commercial arm of soccer’s world governing body by selling stakes in the World Cup and other events to private investors.
The proposal had been met by a wave of criticism by several soccer confederations from the time it was proposed just days ago, with major groups repping Europe, Asia and the Americas condemning the plan that would have radically restructured the global non-profit organization.
“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” FIFA president Gianni Infantino said in a statement released Friday evening. “Our purpose has always been — and will always be — to unite and improve. As a result, this proposal will not proceed.”
The plan, which Infantino announced Tuesday and contingent on a member vote, came on the heels of the summer’s wildly profitable 2026 FIFA World Cup hosted by the U.S., Mexico and Canada. The proposal would have created a commercial arm called FIFA Forward Enterprise, which was being valued at $20 billion. FFE would operate the commercial side of the sport as a dedicated business, with profits shared with member associations like UEFA (Europe), CONCACAF (the Americas, which includes the U.S.) and Asia (the AFC).
The World Cup is not a commercial enterprise, but FFE would allow it to be exploited by private investors. FIFA had said it would be the controlling shareholder, but that it had hoped to raise $4.2 billion by “carefully selecting long-term investors who will purchase minority, non-controlling interests.”
Thrive Capital, an investment firm led by Joshua Kushner, the brother of President Donald Trump’s son-in-law Jared Kushner, was among the investors approached, per reports.
Reactions to commercializing the men’s and women’s World Cups and other major tournaments like the Club World Cup were swift. UEFA — home to World Cup winner Spain as well as semifinalists England and France and six of the eight quarterfinalists — said all 55 of its member states will boycott the World Cup if FIFA enacted the plan to sell stakes in the tournament to private investors.
“The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies,” it wrote after its membership voted in an emergency meeting Thursday. “It has been built over generations by players, national teams and supporters across every continent. No part of it should ever be surrendered to private investors. The World Cup is not for sale.”
CONCACAF and its 41 members also formally opposed the plan Thursday, questioning “the need for private equity investment to fund new and existing FIFA Forward programs following the most profitable FIFA World Cup in history.”
The AFC joined in opposition earlier today. The number of countries in the three federations is more than 140, well above the majority needed to reject the plan required ratification.
“The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed,” FIFA said in its statement tonight. “And more so, as we said from the outset, to do this only if a majority of the FIFA Member Associations were in support and always subject to a consultation process with them, the FIFA Council, the Confederations and wider stakeholders.”
It added: “Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support.”
The next major tournament on the FIFA schedule is the 2027 Women’s World Cup next summer in Brazil. The next men’s World Cup is in 2030 co-hosted by Spain, Portugal and Morocco.
