FIFA defended its private investment plan on Friday, saying it would continue consulting member associations on a proposal to create a $20 billion commercial subsidiary to manage the FIFA World Cup and other tournaments. The statement came after UEFA threatened to boycott FIFA competitions and other regional confederations criticized the proposal.
What is FIFA's private investment plan?
FIFA wants to create FIFA Forward Enterprise (FFE), a new commercial subsidiary valued at about $20 billion to run the World Cup and its other major events. Up to a 20% stake would be offered to external investors, but FIFA says the proposal will only proceed if it receives majority support from its 211 member associations.
FIFA said "incorrect media reports" had disrupted its consultation process but insisted discussions with member associations would continue.
The governing body plans to establish FIFA Forward Enterprise (FFE) to oversee the commercial rights of the World Cup and other flagship competitions. Up to a 20% stake in the new company would be sold to outside investors.
FIFA confirmed that Thrive Eternal, an investment fund led by Joshua Kushner-founded Thrive Capital, is expected to head the proposed investor group. Joshua Kushner is the brother of Jared Kushner, the son-in-law of U.S. President Donald Trump.
Why is UEFA opposing FIFA's investment plan?
UEFA has led the opposition, accusing FIFA of putting the "soul" of football up for sale. On Thursday, all 55 UEFA member associations unanimously agreed to boycott FIFA tournaments if the proposal is approved.
FIFA rejected those claims, insisting the governing body is not selling football or giving away control of the sport.
"Nobody is selling football. This is not something FIFA would ever entertain," FIFA said.
The organization also argued that no single confederation represents all 211 member associations and that every member should be free to evaluate the proposal before voting.
Which football bodies have criticized the proposal?
Opposition has also come from other regional confederations. CONCACAF, which represents North America, Central America and the Caribbean, rejected the proposal during a meeting on Thursday but stopped short of threatening a boycott.
The Asian Football Confederation also criticized the plan, warning its 47 member associations that the proposal would struggle to succeed without the backing of all six continental confederations.
Earlier this week, FIFA president Gianni Infantino told member associations they would each receive $40 million if they approved the proposal by September 19.
FIFA reiterated on Friday that the private investment plan would only move forward with majority support from its members. The governing body said the proposal would provide unprecedented development funding while allowing member associations to retain control through FIFA's democratic voting process.
Spanish World Cup winner Xabi Alonso also voiced concerns about the proposal, saying football should remain focused on supporters rather than private interests.
"We want to keep football for the fans, for everyone, not for other interests," Alonso said. "Hopefully this will not happen."
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