FIFA Abandons $20 Billion World Cup Commercial Plan Amid Backlash, Report Says

FIFA has reportedly abandoned a controversial plan to sell a significant stake in its commercial operations, a deal that would have valued a new World Cup-focused entity at $20 billion. The proposal collapsed following widespread opposition from global soccer officials and internal dissent among top executives, the New York Post reported on Friday, citing four sources familiar with the matter.

Reuters noted it could not immediately verify the report, and FIFA did not immediately respond to a request for comment.

Details of the Collapsed Deal

The plan involved creating a new subsidiary, FIFA Forward Enterprise (FFE), to manage the World Cup and other major tournaments. The governing body aimed to raise up to $4.2 billion by selling an approximate 20% stake to a consortium of outside investors.

Thrive Eternal, a fund managed by Thrive Capital, which was founded by Joshua Kushner, was expected to lead the investor group. In an attempt to quell criticism, FIFA had insisted that "nobody is selling football" and that the deal's nature had been mischaracterized.

Widespread Revolt Sinks Proposal

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The proposal, which emerged on Tuesday, was met with immediate and fierce resistance. The backlash was led by the Union of European Football Associations (UEFA), which accused FIFA of putting the sport’s "soul" up for sale.

The opposition quickly escalated:

• On Thursday, UEFA's 55 member nations unanimously voted to boycott all FIFA tournaments if the plan proceeded.
• On Friday, Carlos Cordeiro, a senior advisor to FIFA President Gianni Infantino, resigned in protest.
• FIFA's Chief Operating Officer, Kevin Lamour, stated that staff were "deceived" by Infantino and described the proposal as a "project of one person."

To secure backing, Infantino had sent a letter to member associations offering $40 million each if they approved the proposal by September 19. However, FIFA had also stated it would not move forward without the support of the majority of its members, a threshold it clearly failed to reach amid the global outcry.