Fifa stunned world football on Tuesday night when it announced bombshell plans to seek private investment in the World Cup and its other tournaments.
The move would have profound long-term consequences for world football. So, what is Fifa's plan? What has been the reaction, and will it succeed?
What is Fifa proposing?
Fifa wants to create a new company called Fifa Forward Enterprises (FFE) that will be responsible for its major events, including the World Cup and Club World Cup.
The idea is to sell 21 per cent of FFE to private investors and bring in $4.2 billion. This would be immediately distributed to Fifa's members through the Fast-Forward Programme.
The programme promises even more funding down the line, as each member will get a grant of $20m, up from $8m, in the next four-year cycle. That will rise to $22m per nation for 2031-34 and $24m for 2035-38.
Fifa says it will retain 51 per cent of FFE, with what's left being split among its 211 member associations. Each member's stake in FFE is valued at around $20m and members could decide if they want to sell their share. In theory, you could get to a point where Fifa owns 51 per cent of its competitions and 49 per cent is in the hands of private investors.
Why is Fifa doing this?
Fifa president Gianni Infantino says it is his responsibility to continue growing football around the world by maximising its commercial value and reinvesting through its member associations.
“Football is the world's most popular sport and an extraordinary engine of human and social development,” Infantino said in a statement.
“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.
“Our job is to make sure the rest of football grows with it: Fifa exists to support sustainable, inclusive development in every corner of the world.”
As a non-profit organisation, Fifa enjoys tax-free status in Switzerland. It is one of the world's wealthiest sporting bodies, generating billions of dollars in revenue, largely from broadcasting rights, sponsorship and other commercial deals linked to the World Cup.
Even without external investment, Fifa is making record sums of money. The four-year cycle that finished with this summer’s expanded World Cup and included last summer’s Club World Cup is expected to bring in $15 billion (£11.3 billion), doubling the total from the previous cycle.
Who is behind the plan?
This is all the work of Infantino. The cynical view is that by increasing the amount of cash going to the members, Infantino is cementing his own position in charge of world football.
Infantino is expected to be re‑elected unopposed as president next year, but under Fifa statutes must stand down in 2031 after serving three full terms.
The Times has claimed it will be Infantino himself who will run FFE, and he will earn a similar salary to the NFL commissioner Roger Goodell, who was paid $64m (£48m) in 2021, the last year his earnings were made public. That is around 10 times more than Infantino's current earnings.
The Athletic reported that a Fifa representative told them that its president would indeed have a leading role in such an organisation.
“This has never been discussed. However, the Fifa president and administration will and must have leading roles in this entity – if approved – to always be in control of any Fifa subsidiary in accordance with the statutes and regulations for the benefit of Fifa member associations,” the spokesman said.
The proposal comes at a time when Infantino has faced fierce criticism after a series of scandals during the 2026 World Cup.
That includes the US travel ban that affected supporters and officials from many countries, including Somali referee Omar Artan, high ticket prices and Fifa's breaking of its own rules to ensure US striker Folarin Balogun's red card was suspended after a phone call between US President Donald Trump and Infantino.
What has the reaction been?
The plan was immediately condemned by Uefa, and the UK Prime Minister Andy Burnham, among others.
The crux of the criticism is that Fifa is merely a custodian of the World Cup and the global game and has no mandate to sell stakes in it.
While Fifa insists it will retain full control of decision-making, private investors will want to see a return and will therefore exert either a direct or an indirect influence on decision making.
So, what happens when they want to hold the World Cup more frequently or expand its size or influence where it is staged?
“This crosses a line that football’s governing institutions should never cross,” Uefa said in a statement.
“Uefa takes it extremely seriously. So should every national football association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
“The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not Fifa's to sell.”
“The World Cup is not a product,” UK Prime Minister Burnham posted on X. “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.”
US Democratic Congressman Jamie Raskin, who has requested Infantino appear before the House Judiciary Committee over Fifa’s ties to the Trump administration, said: “Soccer fans were already priced out of the World Cup by Fifa’s corrupt price gouging before – more oligarch corruption just means more corporate tarnishing of the beautiful game.”
On Wednesday, the English FA said they had been blindsided by the proposal. An FA spokeswoman said: "We were completely unaware of this proposal and have no substantive details, including what the proposition actually is and what conditions are attached.
"Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.
"When the proposal is shared in the full and transparent way now promised by Fifa, we will make our views clear and comment further."
Concacaf also expressed dismay at the lack of the consultation. "We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place. "As leaders within football, we are the custodians of the game. Collectively, FIFA, the Confederations and every Member Association have a responsibility to always act in the best interests of the sport. Every decision we make must be guided by good governance, robust processes and long-term stewardship."
Ties to Trump family
Fifa is working with bankers at JPMorgan to find external investors for FFE.
Reuters reported that former Liberty Media chief executive Greg Maffei has been involved as a commercial adviser on the creation of the enterprise.
Thrive Eternal, a new investment strategy launched by venture capital firm Thrive Capital, is expected to be a lead investor.
Thrive Eternal took a minority stake in Major League Baseball’s San Francisco Giants this year. It was founded by Joshua Kushner, the brother of Jared Kushner, US President Trump’s son-in-law. Former Walt Disney chief executive Bob Iger is an adviser.
“Outside investors will have only a minority stake in FFE and will not play any operational role,” Fifa said. “Equally, they are investing in a subsidiary of Fifa, and not in Fifa itself. For Fifa, nothing changes.”
What happens next?
The proposal will be discussed by the Fifa Council later in 2026. Fifa has not yet announced an exact date. If the Council approves the proposal, it will then go to the Fifa Congress in Morocco in March 2027, where Fifa's 211 member associations are expected to vote on it. A majority vote would be required for approval.
