FIFA president Gianni Infantino has sparked fury after it emerged that he is planning to sell stakes in the men's World Cup to private investors. Football's governing body announced on Tuesday that it intends to expand football development to more than $10 billion (£7.5 billion) by seeking private investment in its competitions, subject to approval by its member associations.
Plan details and structure
FIFA confirmed it will invite third parties to make 'minority, non-controlling investments' into the so-called FIFA Forward Enterprise (FFE), which would consolidate all commercial and event operations. Under the plans, FIFA would retain majority control of the tournament, with the rest sold partly to private investors and partly to each of the body's 211 national associations. All of the body's commercial rights – including broadcast, sponsorship, ticketing, and licensing – would be privately owned.
Investment is set to be led by Thrive Eternal, a company owned and led by billionaire investor Joshua Kushner, the younger brother of Donald Trump's son-in-law and former senior White House advisor Jared Kushner.
FIFA's statement and press release
In a statement, FIFA said that "all net benefits of FFE will be reinvested back into football worldwide," but reports claim that Infantino could become the commissioner of the new entity when his presidency ends in 2031, earning him tens of millions of pounds. A report by The Times saw senior figures describe the plans as a "nuclear bomb" for football and claim that Infantino "has definitely lost his mind", with the proposed move set to open the door to more radical changes to the World Cup and other competitions.
The press release issued by FIFA on Tuesday read: "FIFA intends to expand football development funding to over USD 10 billion subject to approval by FIFA Member Associations. If approved, football development in every corner of the world would benefit immediately from increased funding available to all 211 FIFA Member Associations (MAs): (i) An optional USD 20 million per MA in exceptional and immediate funding for special projects from the new FIFA Fast Forward Programme (FFFP), (ii) USD 20 million per MA in Forward funding for 2027-2030 (currently budgeted USD 8 million), (iii) USD 22 million per MA in Forward funding for 2031-2034, and (iv) USD 24 million per MA in Forward funding for 2035-2038."
FIFA added that FFE would raise up to USD 4.2 billion later this year to fund FFFP, based on an initial equity valuation of USD 20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests in FFE. "All net benefits of FFE will be reinvested back into football worldwide," the statement continued. "In full respect of FIFA’s democratic and governance principles, the launch of this new structure is subject to the support of a majority of MAs and the relevant approvals of the FIFA Council."
Infantino's comments
A statement from Infantino himself read: “Football is the world’s most popular sport and an extraordinary engine of human and social development. Parts of the game have turned that popularity into remarkable commercial value – and we celebrate that success and want it to continue, because it lifts the whole game. Our job is to make sure the rest of football grows with it: FIFA exists to support sustainable, inclusive development in every corner of the world. As its global governing body, FIFA is responsible for making sure the game reaches every corner of the world, and that the value it creates supports federations and communities everywhere. Our next stage of growth needs a structure built for it, one where the commercial side of the game operates as a focused, dedicated business, with its value shared more and better all around the world. Every FIFA Member Association should have an opportunity to seek a fair share of the available funding to shape its own future, deciding for itself rather than relying on others. This is about the democratisation of football worldwide. We intend to invest heavily even in the smallest or most remote parts of the footballing world, places that are too often passed over. Every FIFA Member Association, whatever its size, resources, or geographic location will have a voice and the opportunity to determine its own course. Football has become a truly global game and so the benefits must be felt globally.”
UEFA's reaction
It has also sparked anger from European governing body UEFA, who said that the reported proposal is "a line that football's governing institutions should never cross," adding that the World Cup is "not FIFA's to sell". In a response, UEFA said: "This crosses a line that football’s governing institutions should never cross. UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game. 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."
