Matilda Omonaiye/
FIFA has come under mounting international pressure after unveiling plans to sell a minority stake in a new commercial entity valued at approximately $20 billion, with the proposed deal drawing scrutiny because the lead investor is linked to the family of United States President, Donald Trump.
The governing body of world football confirmed that it intends to establish a new subsidiary, FIFA Forward Enterprise (FFE), which will own and manage the commercial rights to the FIFA World Cup, Women’s World Cup, Club World Cup and other major competitions.
FIFA said it would retain overall control while selling up to a 20 per cent non-controlling stake to long-term investors, raising an estimated $4.2 billion.
The proposal follows an exclusive report by the Financial Times, which revealed that FIFA is in advanced discussions with Thrive Eternal, a permanent capital investment vehicle established by Joshua Kushner.
Joshua is the younger brother of Jared Kushner, the son-in-law of President Trump, placing the White House once again close to one of FIFA President, Gianni Infantino’s most significant commercial initiatives.
Although sources familiar with the negotiations stressed that Jared Kushner is not personally involved in the investment consortium, the Trump connection has intensified political and sporting criticism of the proposal, particularly given Infantino’s increasingly close relationship with President Trump during the expanded 2026 FIFA World Cup hosted by the United States, Canada and Mexico.
The Financial Times reported that the commercial vehicle could eventually be valued at around $20 billion, making it one of the most significant attempts to bring private equity into global sport.
FIFA believes the proceeds would substantially increase development funding for its 211 member associations and strengthen long-term investment in football worldwide.
However, the announcement has provoked an unusually fierce backlash from football authorities across Europe and beyond.
UEFA accused FIFA of crossing “a line that football’s governing institutions should never cross”, arguing that the game’s governance and commercial future should not be transferred, even partially, to private investors without extensive consultation.
The European governing body said football “is not FIFA’s to sell”, warning that the proposal lacked transparency and could fundamentally alter how the global game is governed.
The criticism has extended well beyond football administrators.
According to the Financial Times, UK Prime Minister, Andy Burnham, joined the growing opposition, declaring that football belongs to supporters rather than investors and warning against the commercialisation of the sport’s most prestigious tournament.
European Union Sports Commissioner, Glenn Micallef, has also warned that Brussels will examine the proposal closely, raising concerns about governance standards, competition rules and potential conflicts of interest if private investors acquire an economic stake in FIFA’s flagship competitions.
Reuters reported that football associations across Europe, including the English Football Association, Germany, France and Denmark, have questioned both the substance of the proposal and the manner in which it was developed, arguing that stakeholders were not properly consulted before the announcement.
Former FIFA president, Sepp Blatter, also criticised the plan, suggesting that football’s commercial future should not become intertwined with political relationships or private financial interests.
FIFA has defended the initiative, insisting that it would retain exclusive authority over football governance, competition rules, the international match calendar and all sporting decisions, regardless of outside investment.
The organisation said every member association would have the opportunity to acquire a small equity interest worth up to $20 million, while increased commercial revenues could allow FIFA to distribute more than $10 billion in development funding during the next four-year cycle.
The proposal nevertheless revives longstanding concerns over Infantino’s efforts to attract private capital into world football.
In 2018, FIFA explored a proposed $25 billion investment involving external financiers to expand the Club World Cup, but the initiative collapsed after opposition from football stakeholders.
The latest plan represents the governing body’s most ambitious attempt yet to monetise its commercial assets through institutional investors.
The proposal will require approval from FIFA’s Council and a majority of its 211 member associations before any transaction can proceed, setting the stage for what could become one of the most contentious governance battles in the history of world football.
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