FIFA scrapped a controversial $4.2 billion investment plan led by Thrive Capital on Friday after just three days of fierce backlash from global soccer governing bodies. FIFA President Gianni Infantino announced the decision in a statement, saying the proposal to sell a 20 percent stake in a newly created commercial entity called FIFA Forward Enterprise had “created divisions” that were “no longer in the interest of the objective set out in the first place.”
The plan, first revealed by The Times on Tuesday, would have valued the FIFA Forward Enterprise at $20 billion and raised up to $4.2 billion from private investors, with Joshua Kushner’s venture capital firm Thrive Capital expected to lead the investor group through a subsidiary called Thrive Eternal. Under the structure, FIFA would have retained 80 percent ownership while allowing external investors to own a minority stake in the unit overseeing World Cup and other FIFA events.
FIFA had projected the deal would increase FIFA Forward Funding—money distributed to the organization’s 211 member associations—from $8 million per four-year cycle to approximately $20 million. The proposal was presented as a way to strengthen member associations globally, especially in nations most in need of financial support.
Opposition emerged immediately and overwhelmingly. UEFA, Europe’s powerful soccer federation representing 55 member nations, voted Thursday to boycott all FIFA competitions, including the World Cup, if Infantino proceeded. UEFA accused FIFA of putting the sport’s “soul” up for sale and said the proposal was “irresponsible and indefensible” because it had been “conceived in secret.”
North America’s soccer confederation CONCACAF rejected the plan the same day, questioning the need for private equity investment after the 2026 World Cup had generated record income of approximately $12 billion. The Asian Football Confederation, historically an Infantino ally, released a statement Friday expressing “serious concerns” and calling for an urgent review of FIFA’s governance and decision-making processes.
Internal dissent also mounted. Carlos Cordeiro, one of Infantino’s senior advisers, resigned Friday with immediate effect, stating he could not “stand by while FIFA considers selling a stake in the World Cup” and calling the deal “a bad deal for FIFA’s Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.” FIFA Chief Operating Officer Kevin Lamour said staff had been “deceived” by Infantino, describing the proposal as a “project of one person.”
The rapid collapse raised immediate questions about Infantino’s leadership. The 56-year-old was already under scrutiny over his close relationship with U.S. President Donald Trump during the 2026 World Cup. Infantino is due to seek re-election for a final term through 2031, with the FIFA presidential vote scheduled for March 2027 in Morocco. The deadline for candidates to declare is November 18, 2026. Sheikh Salman bin Ebrahim Al Khalifa, the AFC president who narrowly lost to Infantino in the 2016 FIFA presidential election, called the private investment plan “totally unacceptable” and criticized FIFA’s “unilateral actions” as undermining continental football’s foundations.
Trump denied any involvement in the proposal. When asked Friday at Camp David if FIFA officials had discussed the plan with him, he said, “No, I never spoke to him.” A source close to Thrive Capital also told CBS News that criticism of the firm was unjustified, noting that Joshua Kushner has no political roles and that his donation record supports Democratic causes.
Sources
- CBS News — FIFA’s decision to shelve the World Cup investment plan, Infantino’s statement, UEFA’s boycott threat, Cordeiro’s resignation, Trump’s denial of involvement, Thrive Capital’s statement
- Al Jazeera — Infantino’s statement on scrapping the plan, UEFA’s opposition, Cordeiro’s resignation, Lamour’s statement about staff deception, AFC and Sheikh Salman’s positions, Infantino’s re-election timeline
- Reuters — The plan’s structure and valuation ($4.2B from 20% stake in $20B entity)
- Bloomberg — Details on Thrive Eternal and the FIFA Forward Enterprise structure
- ESPN — UEFA’s boycott vote and CONCACAF’s rejection of the plan
