FIFA, Gianni Infantino scrap plan to sell World Cup stakes after global backlash

Michelle Kaufman, Miami Herald on Jul 31, 2026

Published in Soccer

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MIAMI — FIFA president Gianni Infantino scrapped his proposal to privatize stakes in the World Cup after global backlash, including the resignation of one of his top advisors and threats of a boycott by European nations.

Infantino had proposed creating a $20 billion subsidiary, FIFA Forward Enterprise (FFE), to run the World Cup and other events, with a stake of up to 20% to be offered to private investors.

The lead investor would have been a New York-based firm created by Joshua Kushner, the younger brother of President Trump’s son-in-law Jared Kushner.

In a statement late Friday, Infantino said the “proposal will not proceed.”

“Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place,” he said.

“Our purpose has always been, and will always be, to unite and improve. Moving forward, my intent is to bring all interested parties back together in the coming days and weeks in the spirit of shared interest in our game, and with the objective to continue growing football everywhere, particularly in those countries that mostly need our support.”

Carlos Cordeiro, a top advisor to Infantino and a former Goldman Sachs banker who served on the White House World Cup Task Force, resigned on Friday amid global opposition to Infantino’s financial plan.

“As a Senior Advisor to the FIFA President, a former banker, and a lifelong football fan, I cannot stand by while FIFA considers selling a stake in the World Cup,” Cordeiro wrote in a statement.

“Let me be clear. I had no involvement in this proposal, and I oppose it unequivocally. It is 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. Football has been central to my life, and after more than 35 years in banking I understand both the value of this asset and the consequences of giving part of it away. That is why this proposal should be rejected.”

The former U.S. Soccer Federation president, who lives in Miami, added that FIFA has plenty of money at its disposal without Infantino’s plan.

“FIFA already has access to extraordinary financial resources,” Cordeiro wrote. “The organization sits on billions of dollars in reserves and no debt. The FIFA President himself has highlighted the $15 billion in revenue generated between 2022 and 2026…FIFA’s responsibility is not to maximize commercial returns at any cost. It is to protect and strengthen football for future generations. When those principles come into conflict, football must come first.”

Cordeiro was the latest soccer official to oppose the plan.

On Thursday, UEFA, the governing body for European soccer, announced a boycott of the World Cup and all FIFA-run competitions if this proposal was approved.

CONCACAF, the soccer federations for North and Central America and the Caribbean, did not go so far as to announce a boycott, but issued a statement in solidarity with UEFA, critical of Infantino for not going through the proper channels before trying to push the plan through. The Asian Football Confederation also is opposed to the plan.

FIFA issued a response to the backlash late Thursday night: “We have heard the feedback provided by the respective confederations in relation to the proposed establishment of FIFA Forward Enterprise (FFE) and would like to address the issues that have surfaced since the initial media reporting on Tuesday.

“We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation.

⁠“Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA has the ability to express its vote based on facts.”

The statement continued: “FFE has been proposed solely to ensure that all FIFA Member Associations (MAs) have the opportunity to take meaningful ownership of the commercial opportunity of football in their respective countries, and that this does not come at the cost of either the spirit or the governance of FIFA or football itself.

“Nobody is selling football. This is not something FIFA would ever entertain.”