FIFA insists on consultation over private investment plan despite UEFA boycott threat

World football body FIFA responded to growing criticism on Friday, saying it would proceed with an "open and democratic" consultation with stakeholders over a proposed private investment plan. The response came after UEFA, European football's governing body, said it was ready to boycott the World Cup due to the proposal.

Under the plan, FIFA would create a commercial subsidiary to run its biggest events and allow private investors to buy stakes in that company. FIFA rejected the idea that the sport itself was being sold. "Nobody is selling football," it said in a statement, adding that such a move "is not something FIFA would ever entertain."

FIFA said it had listened to feedback from confederations, including UEFA and CONCACAF, which governs football in North and Central America. "We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation," the statement said. It also blamed "incorrect media reports" for disrupting the planned consultation, and insisted the process would go ahead so every member association could vote based on facts.

The governing body has said the plan, known as the FIFA Forward Enterprise, could raise up to $4.2 billion on a valuation of $20 billion. According to reports, potential investors include Thrive Capital, an investment firm founded and led by Joshua Kushner, the brother of Jared Kushner, son-in-law of US President Donald Trump, as well as an arm of JP Morgan Chase, the US bank that had tried to finance the failed European Super League.

If approved, each of FIFA's 211 member associations could receive a one-off payment of $20 million in early 2027, and their funding for the 2027-2030 cycle could rise from $8 million to $20 million.