Fifa has abandoned plans to sell a stake in the World Cup to private investors after facing significant opposition and threats of boycotts.

Fifa has reversed its proposal to sell a minority stake in the World Cup through a project known as Forward Enterprise (FFE). The plan, which faced intense criticism and threats of boycotts, aimed to secure a $4.2 billion initial investment. The proposal was backed by Thrive Eternal, an investment arm of the venture capital firm Thrive Capital, led by Joshua Kushner.

Investment Strategy and AI

Thrive Eternal was created in April to invest in entities deemed resistant to the AI revolution, such as sports and cultural institutions. The firm argued that football's reliance on tradition and identity would protect it from being replaced by technology. The investment group sought to position itself as a long-term holder rather than a fund seeking immediate returns, with the goal of providing upfront resources to member associations for infrastructure like stadiums and training facilities.

Financial Context and Opposition

Fifa had argued that the World Cup was under-monetized, despite the 2026 tournament being on track to generate record revenues through sponsorship and broadcast rights. Critics, including academics, questioned the necessity of external funding, noting that Fifa could potentially increase payouts to member associations using existing capital. The proposed FFE structure would have valued the venture at $20 billion, with individual member associations potentially holding stakes worth up to $91 million each.