FIFA drops World Cup private equity plan after boycott threats

FIFA abandoned its plan to sell stakes in a commercial World Cup subsidiary to private equity investors late Friday after European nations threatened to boycott the tournament and all other FIFA competitions, marking one of the most dramatic reversals in the governing body's history.

FIFA President Gianni Infantino acknowledged the intense global pushback in a statement, saying the proposal "has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place." He added: "Our purpose has always been — and will always be — to unite and improve. As a result, this proposal will not proceed."thehill

A Plan Undone in Days

The proposal, revealed just days earlier, would have spun off FIFA's commercial operations into a new subsidiary called FIFA Forward Enterprise, valued at $20 billion, with 20% owned by private investors. The core investor was Joshua Kushner's Thrive Eternal, a New York-based firm that had been developing the concept for roughly 18 months. JP Morgan Chase JPMorgan Chase & Co. ↗ 1.16% served as FIFA's banking adviser on the deal.axios+1

Under the terms, each of FIFA's 211 member nations would have received an equity stake worth around $91 million and seen annual funding double from roughly $8 million to $20 million. But the deal never reached a final vote. Within days of its public disclosure — triggered by a pending media leak — regional confederations in Europe, North America, and Asia moved to block it.axios

Boycott Threats and Political Backlash

UEFA's 55 member nations agreed Thursday to boycott the World Cup and all FIFA competitions until the proposal was scrapped. "Some things are simply too important to sell," UEFA said. "The FIFA World Cup belongs to football." CONCACAF's 41 members rejected the plan the same day, citing "the lack of due process" and questioning the need for outside investment "following the most profitable FIFA World Cup in history."1019por

The Asian Football Confederation also broke with Infantino, with president Sheikh Salman warning that "FIFA's unilateral actions appear to undermine the very foundations of continental football."1019por

Kushner's family ties to President Trump compounded the political toxicity. Critics connected the deal to Infantino's cultivation of a relationship with Trump during and after the 2026 World Cup, which generated an estimated $15 billion in revenue for FIFA. Real Madrid praised UEFA for protecting football "at a decisive moment," calling the World Cup "a heritage that belongs to nations, fans and society as a whole."global.espn+1

Infantino's Future in Question

The fallout may extend beyond the failed deal. UEFA declared Infantino had "lost the confidence" of European football and is considering triggering a no-confidence vote, which would require 43 FIFA member nations. FIFA's presidential election is scheduled for March in Rabat, Morocco, with a Nov. 18 deadline for candidates to declare.global.espn+1

FIFA chief operating officer Kevin Lamour said the governing body's administration had been "deceived" about the project, while Carlos Cordeiro, Infantino's senior adviser on global strategy, resigned, calling it "a bad deal for football" that would "mortgage football's future."global.espn