The story

FIFA announced plans on Tuesday to sell a minority stake in a new company called FIFA Forward Enterprises that will run its main events, including the World Cup and Club World Cup. Under the proposal, FIFA would sell up to 21 percent of the new entity to private investors, aiming to raise $4.2 billion based on a $20 billion valuation. The plan requires approval by a majority of FIFA's 211 member associations and its 37-member council. Global bank JP Morgan has been FIFA's chief advisor on the project, with Thrive Capital, a long-term investment vehicle set up by Joshua Kushner, the brother of Jared Kushner, expected to lead the proposed investor group.

FIFA president Gianni Infantino said the plan would triple development funding to more than $10 billion over the next four years. Each member association would receive optional immediate funding of $20 million for special projects, plus regular grants increasing from $8 million to $20 million in the next four-year cycle, rising to $24 million by 2035-38. The Times reported that Infantino could serve as commissioner or chief executive of the new company after his final term as FIFA president, which is limited by 2031, though FIFA said the idea has never been discussed. Infantino is up for reelection as president next year.

UEFA issued a sharp statement criticizing the plan, saying it crosses a line that football's governing institutions should never cross and calling the soul and governance of football not assets to trade. The UK-based Football Supporters' Association called it a new low for FIFA, saying they are furious and will fight back against decisions made for short-term commercial gain. FIFA said it made $15 billion in revenue from the 2026 World Cup, compared to an estimated $7.57 billion during the 2022 World Cup cycle.