FIFA announced Tuesday that it plans to spin the revenue-generating parts of its business into a new $20 billion commercial arm, FIFA Forward Enterprise, and sell roughly 20% of that company to new minority investors, led by a firm owned by Joshua Kushner—the brother of Jared Kushner, U.S. President Donald Trump’s son-in-law.
The plan, which initially promised $20 million to each national soccer federation in the upcoming World Cup cycle followed by increases for the next two cycles, immediately drew strong reactions.
The European confederation, UEFA, immediately released a statement condemning the proposed move.
“The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially,” UEFA said. “None of us are the owners of football. It is not FIFA’s to sell.”
UEFA will hold an emergency meeting this week to determine its response, including a possible World Cup boycott, according to multiple reports.
