Aleksander Čeferin and Victor Montagliani have opened a new front in the battle over Gianni Infantino’s leadership of FIFA, proposing that the organisation release approximately $2.1 billion from its financial reserves directly to its 211 member associations.
Under the joint proposal, every national federation would have access to at least $10 million during the 2027–2030 cycle. Crucially, the money would be additional to funding already promised through the existing FIFA Forward programme.
The proposal has not been approved by FIFA. It was presented in a letter dated September 18 from UEFA president Čeferin and Concacaf president Montagliani, who both serve as FIFA vice-presidents.
According to Reuters’ report on the letter, the two officials believe FIFA could make the distribution without its reserves falling below approximately $1.5 billion at any point during the following four-year cycle.
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Six billion dollars after the World Cup
Čeferin and Montagliani estimate that FIFA will end its current financial cycle with reserves of around $6 billion following the 2026 World Cup in the United States, Canada and Mexico. They describe that figure as the largest reserve in the organisation’s history.
Their calculations remain preliminary. They combine FIFA’s published financial results for 2022–2025 with estimates for 2026 and assumptions covering the next financial cycle.
For that reason, the pair are calling for an independent review with full access to FIFA’s underlying figures before a final recommendation is placed before the FIFA Council.
“Our analysis now raises an important question as to whether the proposed transaction was necessary to deliver greater resources to the MAs,” the letter states.
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The proposal would allow the Council to consider whether more than $2.1 billion could be distributed once FIFA’s final year-end position is known. Čeferin and Montagliani also want the other four continental confederations to support the initiative.
A direct alternative to Infantino’s abandoned plan
The dispute is closely connected to FIFA Forward Enterprise, the private-investment project promoted by Infantino before it was abandoned following international opposition.
Under FIFA’s original proposal, a new commercial subsidiary would have consolidated the governing body’s broadcasting, sponsorship, ticketing, licensing and tournament operations. Outside investors could have acquired minority stakes, with FIFA seeking to raise as much as $4.2 billion at an implied valuation of $20 billion.
The plan promised each member association $20 million in Forward funding for 2027–2030, up from the $8 million then budgeted, as well as access to another optional $20 million for exceptional projects.
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FIFA said it would retain control of the subsidiary. Critics nevertheless objected to private investors acquiring an interest in a business built around FIFA’s competitions and commercial rights.
Čeferin and Montagliani are now offering the national associations a different argument: FIFA may already have enough money to increase development funding without selling a stake in its commercial operations.
FIFA’s money becomes an election weapon
The timing makes the proposal much more than a discussion about accounting. FIFA’s 211 member associations each hold one vote in the presidential election scheduled for March 2027, and development funding has long been central to the relationship between the president and the national federations.
As reported by the Associated Press, the proposal represents a clear counter to Infantino’s previous offer of substantially increased funding through FIFA Forward Enterprise.
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The letter also makes a broader governance argument. “Development is an institutional responsibility of FIFA – not a matter of individual discretion,” it states.
That line goes to the heart of the political challenge. Čeferin and Montagliani are attempting to separate the promise of development money from loyalty to the sitting president. Their message to the federations is that larger payments could continue even if Infantino’s commercial model and ultimately his leadership were rejected.
October meeting could become a decisive test
FIFA has said its own examination of the abandoned project will be submitted to the FIFA Council. That is not the independent investigation demanded by its critics, who want access to the financial assumptions and communications behind the proposal.
The Council is due to meet in Zurich on October 15, while prospective presidential candidates have until November 18 to enter the election. Infantino remains the clear favourite and no challenger has formally emerged.
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The new proposal does not guarantee that $10 million will reach every federation. It does, however, place a specific figure in front of FIFA’s voting members and forces the organisation to explain why billions of dollars should remain in reserve.
For Infantino, the danger is political as much as financial. His opponents are no longer simply trying to stop his plans. They are presenting their own route to distribute FIFA’s wealth.
