UEFA is set to convene an emergency meeting of its 55 member associations later this week to discuss a coordinated response to FIFA’s controversial proposal to raise $20 billion by selling equity to outside investors, with a potential boycott of the World Cup among the options under consideration.
According to ESPN sources, the virtual meeting is expected to take place before the end of the week as opposition grows across Europe to the plan unveiled by FIFA president Gianni Infantino.
The proposal centres on the creation of the FIFA Forward Enterprise, a newly established entity that would oversee FIFA’s commercial and event operations, including future editions of both the men’s and women’s World Cups.
FIFA intends to attract long-term investors to finance the venture as part of what Infantino described as a strategy to expand the organisation’s commercial reach.
FIFA is partnering with multinational financial services firm J.P. Morgan on the initiative, while potential investors include Thrive Eternal, an investment company launched by Joshua Kushner, whose brother Jared Kushner is the son-in-law of U.S. President Donald Trump.
UEFA reacted strongly to the announcement, insisting that football should not be treated as a commercial asset.
“This crosses a line that football’s governing institutions should never cross,” UEFA’s statement said. “UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
“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 governing body has since intensified efforts to unite its member associations against the proposal, with sources indicating there is widespread resistance within UEFA.
British Prime Minister Andy Burnham also criticised FIFA’s plans, becoming the first prominent political leader to publicly oppose the proposal. Writing on X, he said: “Football does not belong to investors.”
UEFA previously threatened to boycott FIFA’s proposal for a biennial World Cup in 2021, a move that ultimately led to the plan being abandoned.
Sources believe a similar strategy could again be considered if FIFA presses ahead with the investment proposal.
In response to the criticism, FIFA defended the project, announcing that FFE aims to raise up to $4.2 billion later this year “based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests.”
“This is about the democratization of football worldwide,” Infantino said in a FIFA statement.
The governing body said the additional funding would significantly boost development grants through its proposed “FIFA Fast-Forward Program.”
Under the plan, each of FIFA’s 211 member associations could receive $20 million between 2027 and 2030, followed by $22 million and $24 million in the next two commercial cycles, replacing the previously promised $8 million.
FIFA generated a record $12 billion in revenue from the 2026 World Cup, driven largely by unprecedented ticket and hospitality sales across the United States, Canada and Mexico.
However, questions remain over whether similar revenues can be achieved when Spain, Portugal and Morocco jointly host the 2030 tournament.
FIFA also stressed that participation in the new financial programme would be optional for member associations.
“FIFA would retain sole control of FFE and exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions,” the soccer body said.
No timeline has yet been announced for discussions or approval of the proposal by FIFA’s Council or its 211 member associations.
FIFA is expected to hold an online congress on Nov. 23, where hosts for the 2031 and 2035 Women’s World Cups will be formally confirmed.
