FIFA shelves plan to sell stake in World Cup commercial rights after resignations and broad backlash
FIFA president Gianni Infantino proposed spinning off the organization's commercial operations into a new $20 billion subsidiary, with private investors acquiring a 20% stake. The plan faced widespread opposition from member associations and European soccer body UEFA, and was ultimately shelved. Victor Cordeiro, a former U.S. Soccer Federation president and White House Task Force for the World Cup representative, resigned in protest over the proposal.
FIFA president Gianni Infantino pushed a proposal to create a new commercial subsidiary valued at approximately $20 billion, under which private investors would acquire a 20% stake in the entity. To secure approval from FIFA's 211 member associations, the plan included an immediate $20 million payment to each federation, with an additional $66 million per association to be paid out before 2038.
The proposal's identified "anchor investor," according to FIFA, was a New York-based investment firm founded by Joshua Kushner, the younger brother of Jared Kushner, President Donald Trump's son-in-law. The Washington Examiner reported this connection prominently, noting the firm's ties to the Trump family by marriage.
Victor Cordeiro announced his resignation on Saturday, stating he had no involvement in crafting the proposal and opposed it "unequivocally." Cordeiro, who described more than 35 years in banking, said FIFA "sits on billions of dollars in reserves and no debt" and argued the organization had no financial need to sell a stake in its marquee competitions. "I cannot stand by while FIFA considers selling a stake in the World Cup," he said, urging other senior FIFA officials to speak out and calling the $20 billion subsidiary "a bad deal for football."