FIFA shelves $4.2 billion stake sale after backlash from football leaders

MUMBAI: Looks like FIFA’s biggest own goal this week happened well before kick-off. The world football governing body has reportedly abandoned plans to sell a minority stake in a new commercial entity after facing fierce resistance from European football administrators and growing dissent within its own ranks.

According to a New York Post report, FIFA had proposed raising up to $4.2 billion by selling around a 20 per cent stake in a newly created commercial arm, FIFA Forward Enterprise (FFE), which was to be valued at $20 billion. The subsidiary was expected to oversee the commercial rights of the FIFA World Cup and the organisation’s other global tournaments.

The proposal quickly ran into opposition from UEFA, which argued that bringing outside investors into FIFA’s commercial operations risked compromising the sport’s long-term interests. In a strong show of unity, all 55 UEFA member associations reportedly voted unanimously on Thursday to boycott FIFA competitions in response to the proposal.

The backlash was not limited to European football. The controversy also exposed cracks within FIFA’s own leadership.

Carlos Cordeiro, a senior adviser to FIFA President Gianni Infantino, resigned on Friday, reportedly in protest against the plan. FIFA Chief Operating Officer Kevin Lamour also criticised the proposal, saying employees had been “deceived” and describing the initiative as “a project of one person.”

FIFA, however, maintained that the proposal had been widely misunderstood. The governing body said it was not selling football, but merely exploring a new structure to manage its commercial and event operations while retaining overall control.

The organisation also said the plan would proceed only if it secured support from a majority of its member associations, signalling that member approval remained central to the proposal.

According to the report, Thrive Eternal, an investment fund managed by Joshua Kushner, founder of Thrive Capital, was expected to lead the investor consortium backing the transaction.

In an effort to win support, Infantino had reportedly written to member associations stating that each association would receive $40 million if the proposal was approved by September 19.

The reported decision to shelve the plan marks a significant setback for FIFA’s efforts to reshape its commercial model, underscoring the delicate balance between unlocking new sources of capital and preserving the governance and traditions of the world’s most popular sport.