Fifa president Gianni Infantino’s plan to sell a stake in the rights to the men’s and women’s World Cups has sparked significant controversy among football governing bodies, fan groups, and politicians. The proposal involves creating a $20 billion commercial subsidiary, Fifa Forward Enterprise, and selling a 21 percent stake for $4.2 billion. While the recent World Cup delivered strong football performances and boosted revenue for hosts, sponsors, and organisers, the planned stake sale has drawn criticism regarding both the principle of the sale and its valuation.
Opponents, including Europe’s football association UEFA, have expressed concerns that the move could undermine football’s governance and financial framework. UEFA members have voted to boycott the next World Cup should Fifa proceed with the plan, indicating a potential schism within international football leadership. Fan groups also worry about the potential impact on the sport, highlighting fears that commercial interests may overshadow the game’s traditional values.
Supporters of the stake sale argue that commercialisation does not necessarily equate to corruption and that investment is essential for football’s development. They suggest that bringing in external partners with expertise in monetisation could help the sport grow, provided the integrity of the game is maintained. The valuation of $20 billion, based on revenues from men’s and women’s tournaments, reflects a multiple just below six times expected annual revenue, a figure comparable to other major sports like Formula 1.
Critics, however, question whether the proposed price accurately reflects the World Cup’s value. The men’s World Cup alone is projected to generate approximately $3.5 billion annually over the coming four-year cycle, and the total valuation does not fully account for the sport’s growing revenue and large fan base. Some analysts argue that an auction or public listing would better serve Fifa members by ensuring a fair market price and increasing transparency for an organisation with a history of corruption allegations.
The planned sale to Thrive Capital, a fund managed by the brother of a close associate of former U.S. President Donald Trump, has raised additional scrutiny due to concerns over governance and conflicts of interest. Observers note that while Infantino has shown an ability to increase ticket prices for fans, it remains unclear if he can secure similarly favorable terms from investors.
As discussions continue, it remains uncertain whether Fifa will modify its approach or face lasting divisions within the global football community. The outcome will likely have broader implications for the commercialisation and governance of the sport moving forward.