FIFA hit by furious backlash over plans to sell stake in competitions
A silhouette of FIFA President Gianni Infantino, words "FIFA's $20B Enterprise" and rising stock graph are seen in this photo illustration created Tuesday. Reuters-Yonhap
PARIS — There was a furious backlash on Wednesday to FIFA's controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a private subsidiary.
World football's governing body had said Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests."
Various media outlets reported on Wednesday that FIFA president Gianni Infantino had sent a letter to the associations saying they will each receive $40 million if they back the plan — but they must sign up by Sept. 19.
"In total for the upcoming cycle starting as of Jan. 1, 2027, each member association will have the possibility of access up to $40 million per member association under this proposal," said Infantino.
The Times — which broke the original story on Tuesday — said sources opposed to the plan had labelled it "pure bribery."
UEFA had issued a blunt statement regarding the plan and was due to hold an emergency meeting later on Wednesday according to France's sports minister.
"Many in European football see FIFA's plans as an outright attack on football. I share this view. A line has been crossed here," Hans-Joachim Watzke, a vice-president of UEFA's executive committee, told Germany's Kicker.
The Times reported Infantino, 56, stood to profit from the scheme by becoming commissioner of the FFE after his expected next term expires in 2031.
FIFA denied that this had been discussed.
The article also said discussion had started with financial advisors and potential investors.
Josh Kushner attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, July 10. Reuters-Yonhap
Those include Thrive capital, an investment company founded and led by Joshua Kushner, brother of U.S. President Donald Trump's son-in-law Jared, as well as an arm of JP Morgan Chase, the U.S. bank that attempted to finance the failed breakaway European Super League.
UEFA, which has regularly criticized Infantino, said the plan "crosses a line."
"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 European Union made no bones about their disdain for the plan.
"Hands off our game," Glenn Micallef, the EU commissioner for Sport, posted on X.
CONCACAF, which governs North and Central American football, said it was "deeply concerned by the lack of due process."
The Asian Football Confederation said it was "disappointed" it had not been consulted.
The plan would still have to be approved by the 38-member FIFA council and the majority of its 211 member associations (MAs). FIFA said it intends to present the plans to the council soon.
Britain's Prime Minister Andy Burnham pauses as he speaks to residents, care workers, volunteers and social care stakeholders during a care home visit in London, Wednesday. Reuters-Yonhap
'Further expanded'
FIFA said in its statement that it "would retain sole control of FFE and exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions."
It said it believed FFE would achieve an "initial equity valuation of $20 billion."
FIFA said each of its MAs would be given the chance to take a one-off stake of $20 million in FFE.
That represents only 0.1 percent of the total, but would be a significant sum for the leaderships of FIFA's poorer or smaller members.
U.K. Prime Minister Andy Burnham, an avid football fan, decried the plan.
"Football does not belong to investors. It belongs to the people who fill the stands and who stand on the touchline week in, week out, rain or shine," he wrote on social media.
In June, ahead of the World Cup, FIFA, which folds competition income into revenue for the whole year, anticipated record revenues exceeding seven billion euros ($8 billion) for 2026.
It was the first World Cup with 48 teams and there is talk of further expanding it to 64.
The Times quoted an unnamed "senior football figure" calling the plan "potentially much worse than the European Super League," as it would have an impact on all levels of football across the globe.
In 2019, a FIFA stakeholders' committee rejected an Infantino-backed plan for a $25 billion private investment in an expanded Club World Cup. Reported backers included SoftBank of Japan and Saudi Arabia's sovereign wealth fund.
FIFA did expand that competition from seven teams to 32 clubs in 2025.
The Times speculated that the creation of FFE could have an impact on the World Cup and the Club World Cup.
"It could lead to pressure for both events to be further expanded or played more regularly than the present once every four years," it wrote.