On 29 July 2026, FIFA President Gianni Infantino announced his plan to sell a 20% stake in FIFA Forward Enterprise (FFE)- a $20-billion subsidiary company to be set up to oversee the organisation’s commercial activities-to Thrive Eternal, an American “capital-holding company.” Thrive Eternal was founded in April 2026 by its CEO Joshua Kushner, also the brother of President Trump’s son-in-law Jared Kushner. FFE is expected to bring in additional revenues, which will then be redistributed to member associations-that’s the theory. A deadline of 19 September was set for FIFA’s member associations to accept Infantino’s proposal, in return for an initial one-off payment of $20 million each, due to be paid in by 1 January. The following day, European football’s governing body UEFA (Union of European Football Associations) convened an emergency virtual meeting, chaired by its president, Aleksander Cefe
FIFA’s President, and the Growing Commercialisation of the Beautiful Game
On 29 July 2026, FIFA President Gianni Infantino announced his plan to sell a 20% stake in FIFA Forward Enterprise (FFE)- a $20-billion subsidiary company to be set up to oversee the organisation’s commercial activities-to Thrive Eternal, an American “capital-holding company.” Thrive Eternal was founded in April 2026 by its CEO Joshua Kushner, also the brother of President Trump’s son-in-law Jared Kushner. FFE is expected to bring in additional revenues, which will then be redistributed to member associations-that’s the theory. A deadline of 19 September was set for FIFA’s member associations to accept Infantino’s proposal, in return for an initial one-off payment of $20 million each, due to be paid in by 1 January. The following day, European football’s governing body UEFA (Union of European Football Associations) convened an emergency virtual meeting, chaired by its president, Aleksander Ceferin, and issued a 481-word statement, backed by all 55 member associations. UEFA said: “We unanimously and unequivocally reject FIFA’s proposal to transfer ownership interests in the World Cup and other FIFA competitions to private investors.” The 41 member associations of CONACAF (Confederation of North, Central America and Caribbean Association Football), the governing body for football in North and Central America, also rejected Infantino’s proposal. FIFA responded by issuing a statement on 31 July, in which it clarified that “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.” The Asian Football Confederation, with 46 member associations, added to the growing opposition by publicly rejecting Infantino’s proposal on 31 July. It must be noted that a minimum of 106 (50% plus one) of FIFA’s 211 members have to vote in favour of the proposal for it to be accepted.
Football has become the dominant global spectator sport, with a massive worldwide audience. Its mass appeal creates many commercial opportunities, which have seen amateurism and lofty founding ideals long consigned to the wayside. In today’s challenging economic climate, profit- making has become essential to the survival of increasingly elitist sports. Ticket sales, merchandising opportunities, corporate sponsorship deals, television broadcasting rights, advertising revenues, luxury hospitality packages, and the vanity projects of the super-rich help keep top-level football afloat at a time when premier clubs compete on a treadmill of ever-increasing player wages and transfer fees for a share of the action. In the background, football-related goods and services generate profits for investors and producers, simultaneously benefiting wider society by creating jobs in supporting acts, promoting community investment, and generating tax revenues for the nation’s coffers. The results are often impressive. For example, the Premier League and its clubs generated £9.8billion in gross value added (GVA) to the UK economy for the 2023/2024 season.
Commercialisation and profit-seeking in sport have many precedents, dating back to the 1970s. Kerry Packer set an example when his Nine Network created World Series Cricket (1977-1979) and took control of the Australian Rugby League. Rupert Murdoch’s News Corporation purchased the English Rugby League for £87 million in 1995, to support its Sky Sport cable network. Since then, commercial interests have encroached upon a wide range of sports. Formula One racing has, in particular, transformed itself into a thriving and lucrative business enterprise.
The question as to whether any profits should be solely reinvested in sport or also support the growing desire of private investors for ever-increasing returns on their invested capital has already been answered. Much of the opposition to Infantino’s current proposal are more specific, relating to a lack of consultation with FIFA colleagues, a lack of transparency in the business plan, the likelihood of backroom deals, and a growing perception that his actions could be considered a means of personal self-enrichment as well as adding to the coffers of individuals close to President Trump. Moral and ethical considerations have guided the opposition on this occasion. Irrespective of the outcome of Infantino’s proposal and whether he stays on or is forced out after the coming presidential election, similar interventions are likely in the future, as football continues its relentless journey on a profit-driven bandwagon. For the moment, the beautiful game of football seems likely to be spared a predatory corporate takeover.
Ashis Banerjee