Inside FIFA's $20 Billion Plan to Sell Stakes in the World Cup and the Furious Backlash That Followed

The stated purpose of the proceeds is to distribute them to member associations to "turbocharge" football development worldwide, tripling current funding levels . FIFA would retain majority control and decision-making authority over the subsidiary, and the proposal must be approved by at least 75% of FIFA's 211 member associations in a vote expected later in 2026 .

The investor group and the Kushner connection

JPMorgan Chase is advising FIFA on structuring the deal . The expected lead investor is Thrive Eternal, an investment firm linked to Joshua Kushner (brother of Jared Kushner, Donald Trump's son-in-law and former senior adviser) . The Kushner family's involvement became a central flashpoint, with U.S. Democratic politicians accusing FIFA of "tarnishing the beautiful game" through political cronyism . When the plan was announced, FIFA's press release specifically named Thrive Eternal as the holding company expected to lead the investor group for FFE .

Sepp Blatter's criticism: 'Football belongs to the people'

Former FIFA President Sepp Blatter, who led FIFA from 1998 to 2015 before being banned from football over corruption scandals, forcefully condemned the plan :

• "Football belongs to no individual and to no institution. It belongs to the people. No one has the right to sell it," Blatter told Reuters .
• He called the World Cup "not a commercial asset that belonged to a few executives" and argued that turning the World Cup into an investment product for private investors violates the fundamental spirit of the sport .
• "If FIFA were transferred into a profit-oriented corporate structure, it would lose its soul," Blatter added .

Several outlets noted the irony of Blatter, who was banned from football over corruption scandals, now positioning himself as a defender of football's integrity .

The broader backlash: 'It is not FIFA's to sell'

The proposal drew condemnation from across football and politics:

• UEFA: Called the plan "a step too far," saying "It is not FIFA's to sell. None of us are the owners of football. We are its guardians." UEFA held an emergency meeting and discussed potentially boycotting FIFA events . The European body said the "soul and governance of football are not assets to trade" .
• La Liga chief Javier Tebas: Accused FIFA of treating the World Cup as a commodity to be traded to the highest bidder .
• UK Prime Minister Andy Burnham: Said the proposal "puts private profit ahead of the global game" and warned it would concentrate power in the hands of a few wealthy investors .
• The Guardian headlined that FIFA was "selling the soul of football" .
• Time magazine reported that critics say the plan "would turn soccer's biggest tournament into an investment asset" .
• Regional confederations including UEFA, CONMEBOL, and others said they were blindsided, learning of the plan through media reports rather than consultation from FIFA .

Infantino's defense

FIFA President Gianni Infantino defended the plan in a video, arguing that too little of football's commercial value reaches the parts of the game that need it most, and that the investment would "turbocharge" global football development . He framed the proposal as a mechanism to redirect more money from major tournaments to smaller member associations that currently receive minimal funding.

What happens next

The proposal still requires approval from FIFA's 211 member associations and the FIFA Council. FIFA has said it will only move forward if backed by a majority of member associations and approved by the FIFA Council . The controversy has already prompted discussions of a potential UEFA boycott of FIFA events, a move that would fundamentally reshape international football governance if implemented .