FIFA President Gianni Infantino has established a Sept. 19 deadline for the 211 member federations to accept a one-off $20 million offer. This offer is part of a controversial plan to sell stakes in a subsidiary that manages the World Cup to private investors.
The proposed $20 billion FIFA subsidiary, which would be 20% owned by private investors, is bankrolled by Joshua Kushner's investment firm, Thrive Capital. According to a letter from Infantino, the project is a unique funding opportunity that would run competitions such as the World Cup and Club World Cup. The process for bringing in a pool of international investors is to be led by J.P. Morgan.
If the proposal is approved by a majority of the 211 members, each federation would receive $20 million in funding from the four-year commercial cycle tied to the 2030 men's World Cup. If the plan is rejected, members would receive their previously promised $10 million over the next four years, according to Infantino's letter.
The plan has met immediate resistance from major soccer bodies. UEFA stated that the World Cup is not FIFA's to sell and may call an emergency online meeting to discuss the matter. The Asian Football Confederation expressed disappointment that such a significant matter entered the public domain before they could examine or discuss it. CONCACAF also voiced deep concerns regarding a lack of due process.
Additionally, the European Football Clubs group noted they learned of the proposal through the media without warning. British Prime Minister Andy Burnham also opposed the plan, stating that football belongs to the fans rather than investors.
The move is part of Infantino's presidency, which has included other ambitious projects such as the creation of a FIFA Peace Prize. The current proposal seeks to increase revenue and value for investors through more frequent competitions. The deadline for member federations to commit to the plan remains Sept. 19.
