Fifa faces backlash from three confederations and FA over $20bn investment vehicle plan

Fifa has come under fierce criticism from three continental confederations and the English FA after world football’s governing body unveiled a proposal to create a new $20bn commercial investment company.

Fifa announced the launch of FIFA Forward Enterprise (FFE), a separate commercial entity which would manage its commercial rights and major events and into which outside investors would be invited to buy non-controlling minority stakes.

The project, set out in detail in an official Fifa statement, is built around a one-off capital programme called FIFA Fast-Forward (FFFP), offering each of Fifa’s 211 member associations the chance to access up to $20m in funding on a voluntary basis.

Fifa said any net profits generated by FFE would be “fully reinvested in football”, adding that the governing body would retain “full control” over the new company through a majority on its board and exclusive authority over football management, competitions, the international match calendar and all regulatory and sporting decisions.

However, UEFA, CONCACAF, the Asian Football Confederation (AFC) and the English Football Association have all either rejected the concept or voiced strong objections, focusing on governance, consultation and transparency.

Fifa’s $20bn structure and proposed investors

Fifa’s plan follows what it describes as “huge financial gains” from the 2026 World Cup, staged in the United States, Canada and Mexico, and mirrors structures used by other sports bodies which have set up specialist commercial subsidiaries.

Under the proposal, FIFA Forward Enterprise would invite geographically diverse, long-term minority investors who, Fifa says, would bring capital and commercial expertise while having no operational role. Fifa stresses that investors would be buying into a Fifa-owned company, not into Fifa itself, and that “for Fifa, nothing changes”.

The organisation says any external partners would be selected under “clear, long-term criteria” aligned with governance and strategic standards, and envisages investors coming from Europe, the Americas, Asia and Africa. It says expressions of interest have already been received from all the sport’s major regions.

Subject to final agreements and required approvals, Fifa expects Thrive Eternal, described as a permanent-capital holding company, to lead the proposed investment group in FFE.

Greg Maffei, chief executive of BANN Ventures and former president and chief executive of Liberty Media during its acquisition and ownership of Formula 1, has acted as a principal commercial adviser and is expected to remain involved in the next phase of FFE’s creation.

Fifa has also engaged J.P. Morgan to work alongside it on the process, with additional advisers including OpenEconomics in contact with potential long-term investors.

The governing body notes that, while it frequently establishes special-purpose subsidiaries on its own authority, in this instance it is involving member associations and the Fifa Council “given its strategic importance”. It says the new structure will only be launched if a majority of member associations vote in favour and the Fifa Council approves necessary regulatory updates.

Fifa underlines that its president and administration have a duty to “steer and manage” the project.

UEFA: ‘Fifa cannot keep exploiting our sport’

UEFA delivered the most openly hostile response, accusing Fifa of seeking to “exploit” football.

“Today we learned of the deadline set by Fifa for associations to support its proposals or lose the one-off payment offer. This tells you all you need to know about this plan,” European football’s governing body said.

“After discussions with many stakeholders in the football world, UEFA understands there is significant and increasing opposition to Fifa’s plan.

“Fifa cannot keep exploiting our sport to enrich themselves and their friends. We can develop the game properly. It is time to prioritise the associations, clubs, leagues, players and fans.”

CONCACAF alarmed by ‘absence of due process’

CONCACAF, which governs football in North and Central America and the Caribbean, said it first learned of the proposal from media reports and then via a Fifa press release, and expressed strong concerns about how the project had been handled.

“CONCACAF was only made aware of this matter through media reports and then via a subsequent press release.

“We are extremely concerned by the absence of due process.

“We share the disappointment of many across our region and the wider game that this level of detail has been designed and made public before any discussion with the relevant governing bodies and stakeholders.

“As leaders in the game, we are responsible for protecting football. Fifa, the confederations and all member associations have a duty always to act in the best interests of the sport. Every decision we take must be based on principles of good governance, effective processes and sound long-term stewardship.

“This is the framework within which CONCACAF operates and we are confident all members of the Fifa family will act in the same way.”

AFC cites ‘lack of consultation’ on major change

The Asian Football Confederation said it had not been consulted before the plan was aired publicly and criticised the manner in which such a far-reaching proposal had been brought forward.

The AFC said it was “disappointed that a matter of such importance has been placed in the public domain before the Asian football family had the opportunity to study and discuss it through established governance channels”.

While acknowledging “the importance of exploring innovative approaches that could help enhance the future of global football”, the AFC insisted that initiatives of this scale “must be grounded in the principles of good governance, transparency and meaningful consultation”.

It argued that decisions with the potential to reshape football’s commercial and financial future require “comprehensive and prior engagement” with confederations, national associations and other stakeholders before any proposal reaches a decision-making body.

The AFC said all parties should be given sufficient information and time to assess the project in full, including governance, legal, commercial and strategic dimensions, to ensure any decision reflects “the collective interests of the global football community” and strengthens trust in Fifa’s governance framework.

FA says it was unaware of Fifa proposal

The English FA, responding specifically to media reports linking the scheme to the World Cup, said it had not been informed about the plans and had “no substantive details”.

“We were not aware of this proposal at all, and we have no substantive details, including what the proposal is and its terms.

“Based on the limited information available to us, we are extremely concerned about the lack of process and governance that has led to this point, as well as the apparent content and principles involved.

“When the proposal is published in full and transparently, as Fifa has promised, we will set out our view and provide further comment.”

Silence from other confederations as Fifa waits on support

As of now, the African, South American and Oceania confederations have not issued public responses to Fifa’s plan.

With clear opposition already voiced by UEFA, CONCACAF and the AFC – three of the six continental bodies – Fifa must now decide how to proceed with president Gianni Infantino’s strategy, which hinges on securing majority backing from its 211 member associations and the Fifa Council before FIFA Forward Enterprise can be formally launched.