FIFA scraps World Cup private investment plan after widespread opposition

FIFA scraps World Cup private investment plan after widespread opposition

FIFA President Gianni Infantino announced on July 31 that the world football governing body has scrapped a controversial proposal to sell a stake in the World Cup to private investors. The move follows an open revolt by football officials and regional confederations who accused the organization of mortgaging the future of the game.

The proposal sought to establish a subsidiary called FIFA Forward Enterprise (FFE) to manage the World Cup and other events. FIFA aimed to value this new arm at US$20 billion and raise up to US$4.2 billion by selling a roughly 20 per cent stake to external investors. Thrive Eternal, a fund founded by Joshua Kushner, was expected to lead the investor group.

The plan triggered immediate and severe backlash from global football leadership. UEFA, the governing body for European football, led the opposition, accusing FIFA of putting the soul of the sport up for sale. On July 30, UEFA’s 55 member nations voted unanimously to boycott all FIFA tournaments. This occurred less than two weeks after Spain became world champions.

Other regional bodies joined the resistance. CONCACAF, representing 41 associations in North America, Central America, and the Caribbean, rejected the proposal during a July 30 meeting, citing concerns over governance, transparency, and a lack of consultation. The Asian Football Confederation (AFC), which represents 47 associations, also issued a statement of solidarity with UEFA and CONCACAF, questioning the viability of the plan and the decision-making processes under Infantino.

Together, these three confederations represent 143 of FIFA’s 211 member associations. While the Confederation of African Football (CAF) and the Oceania Football Confederation (OFC) scheduled meetings to evaluate the plan, and South America's CONMEBOL requested more information to analyze the proposal, the scale of opposition became insurmountable.

The crisis extended into FIFA's internal leadership. Carlos Cordeiro, a senior adviser to Infantino and former US Soccer Federation vice-president, resigned with immediate effect on July 31. Cordeiro described the plan as a bad deal for football and stated the body was mortgaging football’s future without any compelling justification. He added that he had no involvement in the proposal and opposed it unequivocally.

FIFA’s chief operating officer, Kevin Lamour, further criticized the president, claiming staff were deceived and describing the investment plan as a project of one person. In a statement shared with the Associated Press, Lamour wrote:

"Our mission ... is to serve football. Not to serve the personal interests of a person who, unfortunately, believes he embodies FIFA when he is supposed to be at its service."

Kevin Lamour, FIFA Chief Operating Officer, via Associated Press

External political figures also weighed in. British Prime Minister Andy Burnham told reporters on July 31 that Infantino was the wrong man to lead the organisation. Meanwhile, US President Donald Trump stated he had not spoken with Infantino about offering stakes to external investors, despite their close relationship following the recently concluded World Cup co-hosted by the US.

Infantino had attempted to secure support for the plan by writing to member associations, stating they would receive US$40 million each if they agreed to the proposal by September 19. Despite initial claims by FIFA on July 30 that incorrect media reports were disrupting the consultation process, the president ultimately conceded.

"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,"

Gianni Infantino, FIFA President, via statement

Infantino added that his intent is now to bring interested parties back together in the coming days and weeks to grow football, particularly in countries that need support.

The turmoil comes at a sensitive time for the presidency. Infantino, 56, is up for re-election next year, and reports suggest Victor Montagliani, the North American football chief, may challenge him for the position.

The immediate focus for the governing body now turns to the women’s Under-20 World Cup in September. Poland, the host nation, stated on July 31 that they have not yet received information regarding any teams withdrawing from the tournament due to the UEFA boycott threat.