FIFA is pushing forward with a contentious plan to establish a new commercial subsidiary, FIFA Forward Enterprises (FFE), aiming to sell minority stakes in its most prestigious tournaments to private investors. The move, outlined in a five-page letter from FIFA President Gianni Infantino to member associations, seeks to generate substantial capital for global football development but has ignited fierce opposition from major football bodies and political figures.

Under the proposal, FFE would assume responsibility for FIFA’s major international competitions, including the men’s and women’s World Cups and the Club World Cup. FIFA intends to sell a minority stake of up to 20 per cent of FFE, hoping to raise approximately $4.2 billion in initial capital. The overall package on offer is valued at $10 billion, with the equity value of the new company forecast at $20 billion by JPMorgan Chase, who will lead the search for international investors. Thrive Capital, an investment group headed by Joshua Kushner, is set to underwrite the initial outlay, with former Disney chief executive Bob Iger also linked to early private investor bids.

The funds generated would be distributed to FIFA’s 211 member associations through its Fast-Forward Programme. Each association would receive a stake in FFE worth roughly $20 million, which they could choose to retain or sell. FIFA is confident this initiative will scale global development funding to over $10 billion in the next four years. Gianni Infantino, in his letter to member associations, stated, “Should you wish to proceed, this $10 billion package will be available as of January 1st, 2027, ushering in the next phase of our journey together. In exchange, all that is required is your continued trust – everything else remains the same.”

Concerns over commercialisation and control

Despite FIFA’s assurances, the plan has drawn sharp criticism. UEFA issued a scathing response, asserting, “The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not Fifa’s to sell.” The English FA also expressed deep concern, stating, “We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached. Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.”

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Critics highlight that while FIFA would maintain a majority stake of 51 per cent to ensure control, theoretically, 49 per cent of its major competition ownership could end up in the hands of external investors if member associations sell their individual stakes. Irish MEP Barry Andrews, chair of the Committee of International Development, warned, “Football’s social model has been eroded gradually over the last two decades and is now based on hyper capitalism. The sugar rush of $20 million for each football association will quickly be dwarfed by the dividends paid out to investors.”

The deadline for FIFA member nations to respond to the proposal is September 19, 2026. If the proposal is rejected, member associations will share an existing funding pot of $2.7 billion from the Forward programme. The proposal requires a simple majority vote among FIFA’s 211 member associations and subsequent approval by the FIFA Council to be adopted. In a sign of growing scrutiny, Irish MEP Barry Andrews and Nela Riehl, chairs of EU committees, are requesting FIFA to appear before a joint hearing of the European Parliament regarding the plan.

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