Gianni Infantino wants to cash in on the World Cup, and European football is furious. FIFA is moving forward with plans to carve out its commercial operations into a separate corporate entity valued at roughly $20 billion, opening the door for private equity and external investors to buy a stake of up to 20 percent.
If you thought modern football was already too corporate, get ready for private equity to take the wheel.
The proposal centers on creating a new corporate vehicle called FIFA Forward Enterprise (FFE). This subsidiary would handle the commercial and event operations for FIFA's biggest assets, including the men's and women's World Cups, alongside the expanded Club World Cup. To get the ball rolling, FIFA is working with investment bankers at JPMorgan to raise up to $4.2 billion by selling minority equity stakes. Joshua Kushner’s Thrive Eternal fund is already positioned to lead the external investor group, with former Liberty Media boss Greg Maffei advising behind the scenes.
Infantino is pitching this as a noble act of global democratization. FIFA argues that by monetizing the commercial arm of the game, it can pump cash directly back into its 211 member associations. Under the proposed funding model, national federations could access up to $20 million in one-off capital for infrastructure, grassroots programs, and the women's game, with future yearly distributions scaling up.
On paper, handing out money to smaller football nations sounds great. In reality, it opens a Pandora's box of governance issues.
UEFA didn't hold back when the news dropped. European football's governing body released a blistering statement accusing FIFA of trying to sell the soul of the sport. UEFA made its stance clear: "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."
British politicians jumped into the fray too. UK Prime Minister Andy Burnham blasted the move on social media, pointing out that the World Cup belongs to the supporters, not private hedge funds and venture capitalists.
Why is FIFA doing this now? Simple. The 2026 World Cup across the United States, Canada, and Mexico just wrapped up as the most lucrative tournament in history. FIFA is swimming in billions of revenue, but reserves took a hit in recent years, dropping from $3.9 billion after Qatar 2022 down to $2.7 billion by the end of 2025. Infantino wants maximum liquidity, and he wants it fast.
FIFA insists that outside investors will have zero operational control. The governing body claims it will retain sole authority over match calendars, tournament rules, and sporting integrity. But once private equity buys a slice of a multi-billion-dollar pie, return on investment becomes the primary mandate. Wall Street doesn't invest for charity. They expect growth, higher ticket prices, more matches, and aggressive commercialization.
We've already seen the cracks form. This summer's World Cup faced intense backlash over skyrocketing ticket prices and secondary market exploitation. Bringing private equity into the mix means the pressure to milk every single fixture will only intensify.
The plan still needs approval from a majority of FIFA's 211 member associations. While smaller federations enticed by multi-million-dollar payouts might vote yes, the friction between Zurich and European power brokers has reached a boiling point.
Football stands at a dangerous crossroads. If the world's most popular game becomes just another asset class traded by private equity, the disconnect between everyday fans and global administrators will become permanent.
