European soccer is threatening a boycott of the World Cup over FIFA president Gianni Infantino’s plans to create a $20 billion privately funded group to run the sport’s biggest tournament.
Infantino’s own senior adviser, Carlos Cordeiro, has also resigned from his role with FIFA in the wake of the proposal.
The Union of European Football Associations (UEFA) has agreed amongst themselves to boycott the World Cup if Infantino’s plan is pursued, according to ESPN.
The Euro soccer organization said that “UEFA and its national associations will not participate in FIFA competitions” as long as the private equity funding plan is under consideration.
UEFA immediately rejected the private equity plan when FIFA chief Infantino announced his intention to create the funding plan, and said in a statement that soccer “is not FIFA’s to sell.”
“The soul and governance of football are not assets to trade — especially with zero transparency as to who gains financially,” UEFA exclaimed in a statement. “This crosses a line that football’s governing institutions should never cross.”
Coming off his huge success with the 2026 World Cup games, Infantino announced his plan to launch what he labeled the FIFA Forward Enterprise (FFE), which private individuals and companies, including the Kushner family, would fund.
To start with, he said he will raise at least $4.2 billion to get the funding arm up and running “based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests.”
Infantino said he is working with J.P. Morgan to structure the investment group and added that one of the first investors would include Thrive Eternal, launched by Joshua Kushner.
UEFA was not the only soccer association to announce dissatisfaction over Infantino’s plan. The Confederation of North, Central American and Caribbean Association Football also said they would boycott the World Cup if the funding plan moves forward.
Amid the ruckus over Infantino’s plan, his top adviser, Carlos Cordeiro, resigned his role in FIFA, saying that he had “no confidence” in the funding proposal and added that he “unequivocally” opposes it.
Cordeiro also pointed out that FIFA has $15 billion in revenue and has no debt, so a new funding scheme is unnecessary and “makes no sense.”
“Most troubling of all,” Cordeiro added, “is the absence of answers to fundamental questions. Why this deal? Why now? What oversight exists? Who benefits? Was there a competitive process? What governance will be in place? What will investors ultimately gain, and at what cost to football?”
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