FIFA has withdrawn its controversial proposal to bring private equity investment into the commercial arm of international football, just four days after unveiling the plan amid an unprecedented backlash from across the sport.
The governing body confirmed on August 1, that it would not proceed with plans to create FIFA Forward Enterprise, a new commercial subsidiary that would have housed the broadcasting, sponsorship, marketing and event rights for competitions including the FIFA World Cup and FIFA Club World Cup.
FIFA had proposed selling a 20% minority, non-controlling stake in the entity to private investors, raising an estimated $4.2 billion. However, widespread opposition from confederations, national associations, political leaders and football executives forced the governing body into a rapid rethink before member associations were due to vote on the proposal in September.
In a statement, FIFA president Gianni Infantino said the decision was taken after consulting stakeholders.
"Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place.
"Our purpose has always been - and will always be - to unite and improve. As a result, this proposal will not proceed."
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Statement attributable to the FIFA President
— FIFA Media (@fifamedia) July 31, 2026
The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed. And more so, as we said…
The proposal was formally presented to FIFA's 211 member associations on July 28, with Infantino outlining plans for a $20 billion commercial vehicle that would oversee FIFA's flagship competitions. As part of the proposal, each member association would have received a $20 million upfront payment, while annual development funding was set to increase from $2 million to $5 million between 2027 and 2030. FIFA had partnered with JPMorgan to structure the transaction and identify potential investors ahead of a planned vote on September 19.
The announcement, however, triggered an immediate wave of criticism. UEFA declared that "football is not FIFA's to sell", while former FIFA president Sepp Blatter, La Liga chief Javier Tebas and UK Prime Minister Andy Burnham were among the prominent voices to condemn the proposal. Critics argued that private investment would expose football's biggest competitions to commercial pressures while raising concerns over transparency and governance.
Questions were also raised over the proposed investors. The lead investment group linked to the deal was Thrive Capital, founded by technology investor Joshua Kushner, the younger brother of Jared Kushner, son-in-law of U.S. president Donald Trump. The family's business and political links, coupled with Infantino's relationship with Trump, fuelled scrutiny over potential conflicts of interest surrounding the proposal.
The withdrawal represents a significant setback for Infantino, who championed the proposal as a way to secure long-term funding for football development. Reports suggest the episode has dented confidence in his leadership ahead of FIFA's next presidential election, while the governing body is now expected to revisit alternative funding models after shelving one of the most ambitious commercial reforms in its history.
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