FIFA President Gianni Infantino is driving a plan to sell stakes in a $20 billion company to private investors

FIFA has confirmed that it is examining a proposal to set up a $20 billion company which would bring together commercial rights and event operations across its men's, women's and youth tournaments. According to FIFA, the new body would sell minority stakes to private investors while control of competitions, governance and the international match calendar would remain with football's global governing body.

How the plan works

Much of Infantino's time as president has been spent trying to broaden FIFA’s competitions and commercial reach. If this proposal goes through, it would be among the biggest changes of his tenure so far.

The current plan, first reported by The Times and the Financial Times, would involve FIFA creating FIFA Forward Enterprise, also known as FFE. FIFA would keep control of the company, while outside investors would be invited to buy minority, non-controlling stakes.

FFE would aim to raise as much as $4.2 billion later this year, based on an initial equity valuation of $20 billion. FIFA says the funds would then be channelled back into development programmes around the world.

In its announcement, FIFA said each of its 211 member associations would have the chance to access up to $20 million in one-time funding through a new FIFA Fast Forward Programme. The Times reported that this money would be linked to a stake in FFE that associations could keep or sell, although FIFA did not describe the funding as equity in its public statement.

The proposal still needs the backing of a majority of FIFA’s member associations as well as approval from the FIFA Council.

“This is about the democratization of football worldwide,” Infantino said in a FIFA statement.

Influence on FIFA?

How much influence private investors could have on FIFA’s wider decision-making is at the centre of the opposition to the plan.

FIFA says outside investors would have no operational role in FFE. It also insists that it would keep exclusive authority over its competitions, the international match calendar and all regulatory and sporting issues.

Even so, FIFA’s decisions would inevitably affect the company’s value. For instance, expanding a tournament or holding it more often could bring in extra commercial income.

The Times reported concerns that private investors could push FIFA to expand competitions or stage them in countries that can generate the highest revenue. Under the published proposal, however, those investors would have no formal power to make such calls.

Links with the U.S. Government

Thrive Eternal, a permanent-capital holding company launched by Joshua Kushner, is expected to lead the proposed investor group. Kushner is the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

The Times reported that people close to the Trump administration had been consulted on the proposal. J.P. Morgan is working with FIFA on the project.

Trump and Infantino have built a close public relationship. The FIFA president presented Trump with the first FIFA Peace Prize at the World Cup draw in December 2025. Trump also joined Infantino in presenting the World Cup trophy to Spain after this month’s final at New York New Jersey Stadium.

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UEFA issues stern response

UEFA has strongly opposed the proposal, warning that it could undermine the governance of the sport.

“This crosses a line that football’s governing institutions should never cross,” UEFA said.

European football’s governing body also criticised what it called a lack of transparency around the plan and urged national associations, leagues, clubs, players, supporters and governments to take the proposal seriously.

“None of us are the owners of football,” UEFA added. “It is not FIFA’s to sell.”

Infantino's final act?

The proposal could turn out to be one of Infantino’s last major projects as FIFA president.

The 56-year-old is scheduled to seek re-election next year. If he succeeds, he could stay in office until 2031, when FIFA’s term limits would force him to step down.

The Times reported that a commissioner-style role at FFE could eventually be created for Infantino after his presidency ends.

FIFA denied that such a role had been discussed. However, it said Infantino and the FIFA administration would have leading roles in the company if the proposal is approved.