RESOLVING THE LEDGER
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The FIFA president insisted member associations would not be forced to back the proposed commercial spin-off, as criticism from UEFA, CONCACAF, the Asian Football Confederation and European officials intensified.
By: FRANCE 24 FIFA president Gianni Infantino said Wednesday that the proposed launch of a private subsidiary to expoit the commercial benefits of the World Cup was "an opportunity but not an obligation".
In a video released amid a furious backlash to FIFA's controversial plans to sell stakes in FIFA's major competitions , Infantino argued that too little of football's commercial value reached the parts of the game that need it most.
World football's governing body had said Tuesday it would retain a majority share in FIFA Forward Enterprise (FFE) but hoped to raise $4.2 billion later this year by "carefully selecting long-term investors who will purchase minority, non-controlling interests".
Various media outlets reported on Wednesday that Infantino had sent a letter to FIFA's member associations saying they will each receive $40 million if they back the plan -- but they must sign up by September 19.
"FIFA Forward Enterprise, or FFE, is actually a proposal, an offer. It's part of a democratic process - a consultation process - and, above all, it is an opportunity but not an obligation," Infantino said in the video.
"It is a golden opportunity to turbocharge the development of the game globally. But again, it is just an offer, not an obligation."
Infantino insisted the proposal was centred on unlocking "previously uncaptured commercial value" and was conditional on a democratic vote of FIFA's 211 member associations and approval by the 38-member FIFA council.
"Capturing that value requires additional expertise, additional insight, distinct from governing and developing the sport ," he said.
"It would simply commercialise and organise all FIFA-owned competitions along with sponsorship, broadcast, licensing and new ventures for the benefit of FIFA's 211 member associations."
Infantino said the game would not change and the fans would be happier.
"Fans from everywhere in the world would gain immeasurably from this game-changing potential because it will transform football in their countries," he said.
The Times -- which broke the original story on Tuesday -- reported Infantino, 56, stood to profit from the scheme by becoming commissioner of the FFE after his expected next term expires in 2031. FIFA denied that this had been discussed.
The article also said discussion had started with financial advisors and potential investors.
Those include Thrive capital, an investment company founded and led by Joshua Kushner, brother of US President Donald Trump's son-in-law Jared, as well as an arm of JP Morgan Chase, the US bank that attempted to finance the failed breakaway European Super League .
UEFA, which has regularly criticised Infantino, said the plan "crosses a line".
"The soul and governance of football are not assets to trade -- especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA's to sell."
The European Union made no bones about their disdain for the plan.
"Hands off our game," Glenn Micallef, the EU commissioner for Sport, posted on X.
CONCACAF, which governs North and Central American football, said it was "deeply concerned by the lack of due process".
The Asian Football Confederation said it was "disappointed" it had not been consulted.
FIFA said in an earlier statement that it "would retain sole control of FFE and exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions".
It said it believed FFE would achieve an "initial equity valuation of $20bn".
FIFA said each of its member associations would be given the chance to take a one-off stake of $20mn in FFE.
That represents only 0.1 percent of the total, but would be a significant sum for the leaderships of FIFA's poorer or smaller members.
In June, ahead of the World Cup, FIFA, which folds competition income into revenue for the whole year, anticipated record revenues exceeding seven billion euros ($8bn) for 2026.
It was the first World Cup with 48 teams and there is talk of further expanding it to 64.
The Times quoted an unnamed "senior football figure" calling the plan "potentially much worse than the European Super League", as it would have an impact on all levels of football across the globe.
In 2019, a FIFA stakeholders' committee rejected an Infantino-backed plan for a $25bn private investment in an expanded Club World Cup. Reported backers included SoftBank of Japan and Saudi Arabia's sovereign wealth fund.
FIFA did expand that competition from seven teams to 32 clubs in 2025.
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