Football’s governing body is poised to hand over the commercial reins of its most lucrative events to private hands, a step that could reshape the sport’s financial landscape.
Under the proposal, the rights to tournaments such as the World Cup would be sold to investors, a move that could bring in more than $20 billion and funnel a promised $10 billion into development programmes for member associations.
A bold financial gamble
Fifa has enlisted JP Morgan to structure the Fifa Forward Enterprise, a vehicle that aims to raise hundreds of millions of dollars. The venture is valued at roughly $20 billion, with Thrive Capital, the firm founded by Joshua Kushner, leading the hunt for backers.
The financial upside is clear: Fifa’s own revenue from the World Cup is projected to climb past $15 billion, up from a previous estimate of $13 billion. Gianni Infantino, the organization’s president, argues that the deal will democratise the commercial benefits of football across the globe.
Uefa has hit back, accusing Fifa of trying to sell the soul of the game and warning that the plan could erode the sport’s integrity. The European body also claims that Fifa’s recent decision to overturn a red‑card incident after former US president Donald Trump’s intervention was a breach of fair‑play principles.
The controversy is not new. In 2018 Infantino tried to attract private capital for an expanded Club World Cup and a global Nations League, only to face stiff resistance from European clubs. Critics say that external investors could gain outsized influence over decisions that affect the entire sport.
Infantino is set to be re‑elected unopposed next year, though he will have to step down in 2031. Some reports suggest he hopes to chair the new commercial arm, a position that could earn him tens of millions of dollars.
The plan also raises geopolitical questions, with the United States, Canada and Mexico among the countries that could see increased investment, though the exact impact on regional federations remains uncertain.