FIFA president Gianni Infantino has announced plans to establish a $20 billion company aimed at managing the World Cup with the involvement of private investors, including Thrive Eternal, a firm founded by Joshua Kushner, brother of Jared Kushner, who is a son-in-law of U.S. President Donald Trump.

UEFA's Opposition

Infantino's proposal has drawn criticism from UEFA, the governing body for European football. UEFA released a statement asserting, "None of us are the owners of football," in response to the plans for the commercial subsidiary, FIFA Forward Enterprise (FFE). This entity is intended to oversee major competitions such as the World Cup and the Club World Cup.

According to FIFA, the FFE is expected to generate up to $4.2 billion this year to support development initiatives, based on an initial equity valuation of $20 billion. The organization is collaborating with JP Morgan to identify long-term investors who would acquire minority, non-controlling stakes in the venture.

Concerns Over Governance

The recent men's World Cup has intensified scrutiny regarding the connections between Infantino and Trump, raising alarms among UEFA officials. They emphasized that "the soul and governance of football are not assets to trade," particularly in light of concerns regarding transparency in financial gains from such arrangements. UEFA has urged national football associations to take these developments seriously.

FIFA, which operates as a not-for-profit organization based in Switzerland, requires approval from its 211 national member federations for any significant plans. These members will have the opportunity to access up to $20 million in one-off capital as part of the initiative. Infantino remarked that this effort aims to "democratize football worldwide," indicating that a consultation process has already commenced.