European football's governing body has launched an extraordinary attack on FIFA after reports emerged that Gianni Infantino is seeking outside investment in a new commercial company that would control the governing body's most valuable business assets, including the FIFA World Cup.
The proposal, which would mark one of the biggest structural changes in football's commercial history, has already sparked a public confrontation between the sport's two most powerful organisations.
What is FIFA planning?
According to multiple reports, FIFA intends to create a new company called FIFA Forward Enterprise (FFE).
The new entity would house FIFA's commercial operations, including broadcasting rights, sponsorships, licensing, ticketing and other revenue-generating assets connected to competitions such as the men's and women's World Cups and the Club World Cup.
The company is expected to be valued at around $20 billion, with FIFA looking to sell a minority, non-controlling stake to private investors while raising approximately $4.2 billion in fresh capital.
Investment bank JPMorgan is assisting with the process, while Thrive Eternal, an investment vehicle founded by Joshua Kushner, is expected to be among the leading investors. Former Liberty Media CEO Greg Maffei and former Disney CEO Bob Iger are also reported to be advising the project.
FIFA insists that governance of football would remain entirely under its control and says every dollar raised would be reinvested into football development through its member associations. The proposal still requires approval from FIFA's 211 national associations.
The timing is no coincidence.
Following the commercial success of the 2026 FIFA World Cup, Infantino recently revealed that FIFA expects to generate more than $15 billion during the current financial cycle and has repeatedly spoken about unlocking even greater commercial potential in the future.
UEFA's extraordinary response
UEFA wasted little time before publicly condemning the proposal.
In one of the strongest statements issued by the organisation in recent years, European football's governing body accused FIFA of crossing a fundamental line.
"This crosses a line that football's governing institutions should never cross.
UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially.
None of us are the owners of football. It is not FIFA's to sell."
The statement makes clear that UEFA's objection goes far beyond the financial mechanics of the deal.
Its central argument is that football governance cannot become an investment vehicle for private capital, particularly when questions remain over who ultimately benefits from the transaction.
Why the proposal is so controversial
Unlike a traditional company, FIFA has no shareholders.
For decades it has operated as a non-profit governing body responsible for organising world football while redistributing much of its revenue to national associations.
The creation of FIFA Forward Enterprise would separate the commercial side of the organisation into a dedicated investment vehicle whose value could appreciate over time.
According to the proposed structure, investors would not receive regular dividend payments. Instead, they would profit if the value of the company increases and they later sell their stake.
Critics argue that introducing outside investors inevitably creates pressure to maximise commercial returns, potentially leading to more tournaments, higher broadcasting values, greater sponsorship demands and an increasing focus on profit rather than sporting priorities.
Supporters of the plan point to FIFA's claim that the additional capital would dramatically increase funding available for football development across all 211 member associations.
Another chapter in the FIFA-UEFA power struggle
The latest dispute is also the newest chapter in the long-running political battle between FIFA and UEFA.
Relations between the organisations have deteriorated repeatedly during Gianni Infantino's presidency, with disagreements over the expanded Club World Cup, the international match calendar and FIFA's growing commercial ambitions.
UEFA now appears determined to frame this latest proposal as something even more significant: not simply another business decision, but a question about who ultimately controls football's future.
Whether FIFA's member associations approve the project remains to be seen.
If they do, football could be entering a new era where outside investors own a financial stake in the commercial engine behind the world's biggest sporting event—a prospect UEFA believes should never become reality.
Published by Patrick Jane
28.07.2026