FIFA's Controversial $20bn Deal: Joshua Kushner Firm Eyed as Investor in World Cup Rights Sale

FIFA has confirmed plans for a $20 billion (£15.1 billion) commercial vehicle, with Joshua Kushner's Thrive Eternal firm eyed as lead investor in a minority stake sale linked to World Cup rights.

The Switzerland-based body said on Tuesday it would create FIFA Forward Enterprise to house commercial operations and raise up to $4.2 billion (£3.2 billion) from long-term investors this year. UEFA has already voiced strong opposition to the proposals as of 29 July 2026.

Details of the Controversial Stake Sale

The new subsidiary would consolidate FIFA's broadcast, sponsorship, ticketing and licensing rights along with the operational delivery of its tournaments including the men's and women's World Cups as well as the Club World Cup.

FIFA intends to sell roughly 20 per cent as non-controlling interests while retaining sole control over governance and sporting decisions.

Bankers at JPMorgan are advising on the process, with former Liberty Media chief Greg Maffei involved as a commercial adviser.

Thrive Eternal, launched by tech investor Joshua Kushner whose brother is married to the daughter of US President Donald Trump, is expected to lead the proposed investor group.

The funds raised would support expanded development payments, including optional one-off sums of $20 million (£15.1 million) to each of the 211 member associations under a new Fast Forward Programme.

FIFA stressed that the enterprise remains a subsidiary under its ownership and that investors would have no say in regulatory matters or the match calendar.

UEFA Criticism and Wider Reaction

European football's governing body responded swiftly, stating that 'It is not FIFA's to sell' and adding that 'None of us are the owners of football.'

UEFA described the plans as crossing a line that football's institutions should never cross, highlighting concerns over transparency and the soul of the game. The proposals come after the recently concluded World Cup in the United States, Canada and Mexico, which deepened ties between FIFA president Gianni Infantino and US political figures.

FIFA insists all net benefits from the enterprise will be reinvested in football worldwide and that outside investors will hold no operational role. The plan requires approval from a majority of member associations and the FIFA Council.

Potential Impact on Member Associations

If backed, the structure aims to lift total football development funding above ten billion dollars over coming cycles, with annual Forward payments rising for national federations between 2027 and 2038.

FIFA president Gianni Infantino framed the initiative as allowing the commercial side of the game to operate as a focused business while sharing value more widely across the globe. Sources familiar with the talks note expressions of interest have already emerged from investors across several continents.

The timing, just days after the tournament final, has prompted questions about the pace of commercialisation under Infantino's leadership, though FIFA maintains the changes protect its non-profit status and democratic principles.

Member associations would see immediate access to extra capital for special projects if they opt in, potentially transforming funding for smaller federations. The vote among the 211 associations remains pending, with no date yet set for formal consideration by the FIFA Council as discussions continue among stakeholders in the coming weeks.