FIFA said Tuesday that it will create a $20 billion subsidiary to house its commercial and event operations and offer external investors the opportunity to buy shares of up to 20% of the subsidiary. FIFA claims that offering minority interests to private investors would allow it to raise up to $4.2 billion that can be used to fund soccer development programs worldwide. FIFA says it would retain sole control of the enterprise and “exclusive authority” over its competitions, governance, and all regulatory and sporting decisions.
But the move has faced backlash from soccer officials, fans, and political leaders, who say it would overly commercialize the sport. Critics also fear that it could deepen FIFA’s already-controversial ties with U.S. President Donald Trump through potential investors linked to his family. The proposal comes on the heels of the 2026 men’s World Cup, which was co-hosted by the U.S. and brought in a record $12 billion in revenue for the organization.
“The close relationship between the FIFA President and the US President has reached a financial dimension that is deeply damaging football,” posted Infantino’s predecessor, former FIFA president Sepp Blatter, who was dogged by accusations of corruption and financial mismanagement during his tenure but has since become a vocal critic of his successor. “No one has the right to sell our game.”
The existing FIFA Forward program is budgeted to provide $8 million in development funds to each member association during the 2027-30 World Cup cycle. Under the proposal, the new FIFA Fast Forward Program would increase funding to $20 million each during the upcoming cycle, and to $22 million and $24 million each for the following four-year cycles through 2038.
But the underlying plan has drawn scrutiny for its ties to Thrive Eternal, a company launched by Joshua Kushner, the brother of Trump’s son-in-law Jared Kushner. Thrive Eternal is a permanent capital investment firm created earlier this year to buy and hold minority stakes in sports teams and other iconic brands.
TIME has reached out to FIFA for comment. Thrive Capital, a venture capital firm founded by Kushner, said it did not have a comment to provide at this time.
Soccer confederations, lawmakers criticize proposal
CONCACAF, the confederation that governs soccer in North America, Central America, and the Caribbean and that represents 35 of FIFA’s member associations, said it was “deeply concerned by the lack of due process,” including the fact that plans had been announced “before any discussion with the relevant governance bodies and stakeholders has taken place.”
The Asian Football Confederation also expressed concern about the proposal and said it was not consulted on it. The body, which represents 46 FIFA member associations, said it “is disappointed that a matter of such significance entered the public domain” before it was discussed “through the appropriate and established governance channels.”
The proposal comes as relations between UEFA and FIFA have strained. UEFA President Aleksander Čeferin skipped the World Cup final after disputes with FIFA over disciplinary procedures and match operations. UEFA said FIFA had “crossed a red line” when FIFA suspended the implementation of an automatic one-match ban for U.S. forward Folarin Balogun, who had received a red card, after Trump’s reported intervention.
Ahead of this year’s World Cup, some European soccer officials and politicians called for fans to boycott the U.S. games, citing both Infantino’s friendship with Trump and the Trump Administration’s immigration and foreign policies. Infantino was also criticized for presenting Trump with a newly-created FIFA Peace Prize, and for opening a FIFA office in New York’s Trump Tower, a property owned by the Trump Organization.
The Democratic committee members said the proposal was an example of “more oligarch corruption” after FIFA’s use of dynamic pricing helped push World Cup ticket prices to unprecedented levels. Earlier this week, the group of lawmakers called on Infantino to sit for an interview about “deceptive” ticket practices and alleged corruption between him and Trump.
“Let me say this very directly. Football does not belong to investors. It belongs to the people who fill the stands and who stand on the touchline week in, week out, rain or shine,” Burnham posted on X. “The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell. Dress the deal up however you like. Once you have sold a piece of it, you have sold out.
“Football belongs to the fans. It always has, and it always will.”
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