FIFA, the governing body for world soccer, has officially shelved a controversial proposal that would have permitted billions of dollars in private commercial investment into the World Cup. The decision to abandon the project follows widespread and fierce opposition from member nations, who raised significant concerns regarding the initiative.
FIFA President Gianni Infantino announced the withdrawal in a statement on Friday evening. He explained that after carefully considering the feedback from various stakeholders, it became clear that the project had created divisions that were no longer in the interest of the organization's original objectives. Infantino noted that the initiative was intended to strengthen member associations and the sport globally, but emphasized that it was always subject to support from a majority of the FIFA Member Associations and a thorough consultation process.
The proposal, first revealed earlier this week by The Times, was known as FIFA Forward Enterprise (FFE). Under the plan, FIFA would have established a new commercial rights and event operations company, with 80% of the ownership retained by FIFA and 20% sold to private investors. The project carried an initial valuation of $20 billion, with $4.2 billion earmarked for selecting long-term investors. FIFA had confirmed that Thrive Eternal, a subsidiary of the investment firm Thrive Capital owned by Joshua Kushner, was expected to lead the proposed investor group.
The reaction from global soccer organizations was swift and severe. On Thursday, UEFA, the European soccer federation, announced that its 55 member nations had agreed to boycott competitions organized by FIFA, including the World Cup, if the project moved forward, labeling the plan as "irresponsible and indefensible." Shortly after, the 41-member Confederation of North, Central American and Caribbean and American Association Football (CONCACAF) also rejected the proposal. CONCACAF questioned the necessity of private equity funding to support FIFA programs, especially following what it described as the most profitable World Cup in history, though it stopped short of issuing a formal boycott threat.
The Asian Football Confederation also released a statement on Friday expressing solidarity with UEFA and CONCACAF, noting serious concerns over the introduction of private investment into flagship competitions and the decision-making process surrounding FFE. The mounting pressure led to the resignation of Carlos Cordeiro, a senior adviser to Infantino, who stated he could not support the sale of a stake in the World Cup.
In the lead-up to the cancellation, a source close to Thrive Capital defended the firm's involvement, dismissing criticism as unjustified and clarifying that Joshua Kushner has no links to the Trump administration, nor any political role or history of donating to it. Meanwhile, Infantino has faced ongoing criticism regarding his relationship with President Trump ahead of the 2026 World Cup, which the U.S. hosted alongside Canada and Mexico. This scrutiny intensified earlier this month after FIFA overturned a red card suspension for U.S. striker Folarin Balogun following a personal request from President Trump, a move made without a detailed explanation just one day before a match against Belgium.
