FIFA scraps World Cup stake-sale plan after investor pullout, backlash

FIFA has scrapped its controversial proposal to sell minority stakes in a new commercial subsidiary that would manage World Cup and other tournament rights, multiple sources familiar with the matter told the New York Post on Friday. The plan, valued at roughly $20 billion with a targeted $4.2 billion raise from selling about 20% of FIFA Forward Enterprise (FFE), effectively collapsed after less than a week of public scrutiny, as key financial backers withdrew and major confederations threatened revolt. The retreat marks a major setback for FIFA President Gianni Infantino, who had championed the plan as a way to accelerate development funding for the organization’s 211 member associations.

Investors withdraw, deal collapses

Private investors, including a group expected to be led by Joshua Kushner’s Thrive Eternal, and adviser JPMorgan have pulled out of the deal, according to four sources. Thrive has begun discussions about dropping the idea, while JPMorgan reportedly does not expect it to proceed. The rapid unraveling followed UEFA’s threat of a boycott of FIFA competitions, including future World Cups, as well as rejections by CONCACAF and the Asian Football Confederation, and internal criticism from senior FIFA officials.

The proposal first surfaced on July 28, when FIFA announced plans to create FFE as a subsidiary consolidating commercial rights—broadcast, sponsorship, ticketing, licensing—and event operations for competitions including the men’s and women’s World Cups and the Club World Cup. FIFA would retain majority control while offering minority, non-controlling stakes to long-term investors. JPMorgan advised on a valuation of about $20 billion, with Thrive Eternal, linked to Kushner, brother of Jared Kushner, expected to lead the investor group.

Infantino's pitch meets fierce opposition

Infantino framed the initiative as democratizing football’s commercial success, promising member associations roughly $40 million each in enhanced funding, including a one-off "Fast-Forward" payment, if they backed it by a September 19 deadline. But critics immediately highlighted the lack of prior consultation, potential cronyism in investor selection, the preference for equity over debt financing, and risks that private investors could pressure FIFA into expanding or scheduling more frequent tournaments to boost returns.

Senior FIFA adviser Carlos Cordeiro resigned in protest on Friday, calling the proposal "a bad deal for football" and accusing the organization of "mortgaging football’s future." FIFA’s chief operating officer also voiced strong internal dissent. Despite public assurances that "nobody is selling football" and pledges to continue consultations, the loss of key financial backers rendered the project unviable.

Confederations unite in rebellion

The opposition escalated quickly across global football. UEFA’s 55 members voted unanimously to boycott FIFA events if the plan advanced, arguing that the "soul and governance" of football were not for sale. CONCACAF rejected the proposal over process and transparency concerns, while the AFC expressed solidarity with the opposition. The Confederation of African Football took a more measured stance, planning an executive review while encouraging members to examine the proposal—reflecting closer ties between CAF President Patrice Motsepe and Infantino.

The unified resistance from major confederations, combined with the withdrawal of financial partners, effectively killed the deal. What began as an ambitious bid to pull forward future revenues for development funding ended in a high-profile retreat after just days of public pressure.

Fallout and next steps

The episode has intensified scrutiny of Infantino’s leadership ahead of his expected re-election bid in 2027. The abrupt abandonment raises questions about FIFA’s governance and the president’s ability to push through major reforms without broad consensus. With the commercial subsidiary now shelved, FIFA must return to conventional funding models for the $40 million per-association development pledge, likely through existing revenue streams or alternative financing arrangements.

FIFA had not issued an official statement confirming the abandonment as of late Friday. The collapse is a significant blow to Infantino, who had made the plan a cornerstone of his vision for accelerating football development globally. Whether he can rebuild trust with member associations and confederations remains to be seen, but the united front against the proposal suggests that any future attempts to privatize FIFA’s commercial crown jewels will face far greater scrutiny and resistance.