FIFA’s plan to use Kushner, backed by US$20 billion to run the World Cup, is met with fury from Europe’s UEFA
FIFA president Gianni Infantino’s plan to create a $20 billion company (all US figures) to run the World Cup with private investors including the Kushner family was announced on Tuesday – and was immediately attacked by European soccer body UEFA.
“It does not belong to FIFA for sale,” UEFA said in a statement. “None of us owns the ball.”
Infantino’s plans to create a commercial subsidiary, to be called FIFA Forward Enterprise (FFE), to run tournaments such as the World Cup and Club World Cup were first reported by The Times of London.
FIFA said in a statement that the FFE will raise up to $4.2 billion later this year to help finance the development plans “based on an initial equity calculation of $20 billion by carefully selecting long-term investors who will purchase small, non-controlling interests.”
FIFA is working with JP Morgan and target investors include Thrive Eternal launched by Joshua Kushner, the brother of Jared Kushner who is the son-in-law of US President Donald Trump.
The men’s World Cup that ended this month only deepened the political and personal relationship between Trump and Infantino, and fueled concerns about that relationship including at UEFA.
“The soul and management of football is not for sale – especially when there is no transparency about who benefits financially,” UEFA said on Tuesday, responding to reports of selling shares in FIFA competitions.
FIFA is currently a Swiss-based non-profit organization of its 211 national member associations around the world.
Those members must approve any plan and will have access to “up to $20 million in one-time payments,” FIFA said.
“This is about the democracy of football around the world,” Infantino said in a FIFA statement, adding that “the consultation process has begun.”
UEFA, however, said it was taking the reports of the scheme very seriously. So should the entire National Football Association.
“This crosses a line that football’s governing bodies should not cross,” said UEFA, which has 55 members from FIFA.
FIFA offers $20M to member confederations
The outline of Tuesday’s surprise announcement was, FIFA said, explained by Infantino to members gathered in Manhattan on July 18 ahead of the World Cup final. There, Infantino promised to “unleash the commercial power and opportunity that FIFA has.”
FIFA’s statement on Tuesday about the proposed project revealed how much money each of the 211 members could receive by 2038 in “FIFA’s Forward Plan”.
Instead of the now pledged $8 million each in development funding for the 2027-30 World Cup trade cycle, it will be $20 million, then $22 million and $24 million in subsequent cycles.
FIFA recorded record World Cup revenue of $12 billion for the 2026 tournament with record ticket and hospitality prices in the US, Canada and Mexico. It was not clear how that amount would compare with Spain, Portugal and Morocco hosting the men’s 2030 program.
Member confederations can choose if they want to participate in the new financial opportunities, FIFA said.
“FIFA will retain control of the FFE and exclusive authority over the administration of football, competitions, the calendar of matches, and all regulatory and sporting decisions,” the football body said.
FIFA’s integrity standards were questioned during the World Cup, including by team coaches, the Norwegian football federation and Europe’s top civil society organisation, the Council of Europe.
FIFA’s previous attempt to keep things secret
The deal, announced Tuesday, is the second since Infantino has struggled for 11 years to strike a multibillion-dollar deal with private donors.
In 2018, Infantino proposed a private offering of $25 billion over 12 years with Japan’s SoftBank to create new global tournaments, including an expanded Men’s World Cup, which appears to be backed by Saudi Arabian money.
That ultimately failed after facing strong opposition from UEFA, which saw a threat to its prize possessions: the Champions League and the European Championship.
Infantino has developed a close relationship with Saudi football and the kingdom’s Crown Prince Mohammed Bin Salman. Saudi Arabia will host the 2034 World Cup and was a major sponsor of the men’s Club World Cup hosted in the US last year.
Infantino’s future?
The financial success of the recently concluded World Cup looks set to ensure that Infantino is re-elected next year unopposed for a fourth and final term in office until 2031.
In his re-election in 2023 in Rwanda, Infantino suggested that any CEO who delivers similar financial results will be kept in the job forever.
Speculation has been swirling for years that Infantino is looking for a different role in international football beyond his FIFA presidency, which is due to end when he is 61.
The Times reported on Tuesday that Infantino could be created for the position of CEO commissioner in the new FFE job.
“This has never been discussed,” FIFA said in a statement on Tuesday. “However, the FIFA president and the FIFA management will have leading roles in this business – if they are approved.”
No timetable was proposed on Tuesday for the debate and decisions of FIFA, the Governing Council led by Infantino, and its 211 members.
FIFA is scheduled to hold an online conference on November 23 to confirm the hosts of the 2031 and 2035 Women’s World Cups.
