FIFA plans to sell up to a 21% stake in a new World Cup subsidiary called FIFA Forward Enterprise. The plan targets a $20 billion valuation and roughly $4.2 billion in immediate cash from private investors.
The Union of European Football Associations (UEFA) condemned the plan within hours of the report, calling football’s governance something no institution should trade. The Times first reported the plan, and FIFA confirmed the outline the same day.
Why UEFA Says FIFA Crossed a Line
FIFA Forward Enterprise, or FFE, would house the World Cup’s broadcast rights, ticketing, licensing and sponsorship income. It would fold all of that revenue into a single private vehicle. Joshua Kushner is reportedly negotiating to lead the purchase through his investment fund, Thrive Eternal. JPMorgan Chase is advising the organization on the sale.
UEFA statement on The Times article: ⬇️ pic.twitter.com/ye1tjfWRCb— UEFA (@UEFA) July 28, 2026
FIFA runs a substantial sponsorship business of its own. No crypto exchange counts among the tournament’s official sponsors. Kraken’s FIFA partnership made it this year’s crypto exchange supporter. Handing outside investors a cut of that income would break sharply from FIFA’s usual model.
Investors Would Share in Record World Cup Profits
FIFA’s four-year cycle, capped by the 2026 World Cup, produced a record $15 billion in revenue. The tournament spanned the United States, Canada, and Mexico. FFE investors would collect a direct share of future profits.
That stake would sit on top of the $4.2 billion the federation hopes to raise immediately. Member federations, meanwhile, would split payouts the organization values at up to $86 million each over 12 years.
FIFA president Gianni Infantino defended the plan as reinvestment in the game, not a sale of it.
“Football is the world’s most popular sport and an extraordinary engine of human and social development. Parts of the game have turned that popularity into remarkable commercial value, and we celebrate that success and want it to continue, because it lifts the whole game.”
Outside money surrounded this year’s tournament. Kalshi’s prediction market boom added three million users during the event. Rapper Drake’s World Cup prediction bet on Argentina alone cost him $1.5 million. Critics expect FFE to push ticket prices higher. They also worry it will add matches to an already crowded calendar and move broadcasts behind pricier paywalls.
Governments have raised similar alarms before. Britain’s Financial Conduct Authority issued crypto sponsorship warnings to Premier League clubs days before this year’s tournament. The regulator cited money laundering concerns tied to unauthorized sponsor deals.
FIFA’s 211 member associations must approve the plan before FIFA Forward Enterprise can launch. The FIFA Council must sign off too. The vote will show whether UEFA’s rebuke forces real transparency on who profits, or whether it simply gets absorbed into football’s next commercial cycle.
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