Fifa has scrapped its proposal to sell a minority stake in the World Cup, reversing course after facing fierce opposition. The plans had drawn threats of future boycotts and demands for Fifa President Gianni Infantino to step down.
The now-cancelled plan, known as the Forward Enterprise (FFE), had attracted interest from a group of tech investors led by Thrive Eternal, a spin-off of venture capital firm Thrive Capital. Thrive Eternal, which launched in April this year, was created to invest in areas with "qualities that cannot be replicated by technology," with sport being central to this strategy.
The investors, who were reportedly preparing an initial investment of $4.2 billion (£3.1 billion), viewed football's tradition, culture, and identity as protective factors against disruption by artificial intelligence. A source close to Thrive Eternal indicated the investment was not for a speedy return, but for a "long period of time - decades."
The FFE proposal, if activated, would have given each member association a stake worth up to $91 million, based on a $20 billion valuation, with equity controlled by Fifa. According to a source, the idea was to provide upfront resources to countries that typically lack access to external funding, enabling investment in infrastructure like stadiums and training.
Despite Fifa's claim that the World Cup is "under-monetised," the 2026 tournament is projected to generate record revenues. Christina Philippou, an associate professor in accounting and sport finance at the University of Portsmouth, stated that Fifa is not in desperate need of money and could increase payouts to member associations using existing funds.