FIFA’s attempt to sell a stake in its commercial rights to fund global football development has collapsed after a wave of internal resistance, leaving the governing body’s financial strategy under fresh scrutiny.
Why the deal collapsed
FIFA had aimed to raise up to $4.2 billion (£3.1 billion) by selling a 20% stake in a new commercial arm, FIFA Forward Enterprise, which would have been valued at $20 billion (£14.8 billion). The proposal, which required backing from the 211 member nations by September 19, dangled potential payouts of up to $40 million per country in exchange for support. But the plan met fierce opposition from officials worldwide, exposing rifts among football’s governing body.
FIFA president Gianni Infantino confirmed the deal’s failure, telling Sky News that the project had “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.” He added that the governing body’s purpose remained “to unite and improve,” and that the proposal would not proceed. Infantino now intends to “bring all interested parties back together” in the coming weeks to refocus on growing the game, particularly in under-resourced regions.
The backlash and the backers
The failed initiative involved Thrive Capital, a New York-based venture firm led by Joshua Kushner, brother-in-law of former US president Donald Trump. Sources told the New York Post that Kushner’s firm was distancing itself from the collapse, with one saying, “They are not the feeling this. There is no way they want to continue to be involved in this mess.” Another source described the episode as “a brand nightmare” for the investor, suggesting Kushner would seek alternative ways to engage with football’s commercial landscape.
The proposal would have transferred FIFA’s cash-generating assets—including TV rights, sponsorship deals, licensing, and ticketing—into the new entity. Critics had already condemned the plan as a thinly veiled bribe with an artificial deadline, framing it as an attempt to strong-arm nations into compliance. The pushback underscored broader unease about FIFA’s financial ambitions and the transparency of its decision-making under Infantino’s leadership.
What happens now?
With the commercial stake sale abandoned, FIFA must pivot quickly to address the funding gap left by the collapsed deal. Infantino’s pledge to reunite stakeholders signals an attempt to reset relations, though the episode has exposed vulnerabilities in FIFA’s ability to execute major financial initiatives without fracturing its own ranks. The organisation’s 211 member associations will now receive no payouts from the failed proposal, forcing a rethink of how to distribute funds to federations that rely on FIFA’s financial support.
Infantino’s emphasis on “those countries that most need our support” suggests a return to the organisation’s stated mission, but the episode has raised questions about FIFA’s long-term revenue strategy, particularly as it prepares to host the 2026 World Cup in North America—a tournament already under financial scrutiny for its ballooning costs. The World Cup remains in FIFA’s hands, but the governing body’s credibility has taken a hit. The collapse of the stake sale is more than a financial setback; it’s a governance crisis that will demand urgent repair if FIFA is to restore confidence in its leadership.
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