Infantino's World Cup private investment plan has drawn seismic FIFA backlash. Here's what to know

Geneva: Gianni Infantino truly looked the "King of Soccer,” as U.S. President Donald Trump likes to call him, as the two allies sat together watching the World Cup final less than two weeks ago. Sure, there were some boos inside MetLife Stadium near New York, when the two men walked across the turf to present the trophy and medals to Spain and Argentina players on July 19. Still, that 104th and final game capped a biggest-ever tournament seen as a vindication for the FIFA president - a consensus success on the field and a financial bonanza for global soccer. Infantino could look ahead to his likely re-election coronation next March. The sunny scene must now feel an age ago since Infantino caused a seismic rift in global soccer. The intensifying fallout might shockingly cost the 56-year-old Infantino a job in which he seemed untouchable until this week. Infantino's misstep was inviting private investors, led by Joshua Kushner, to buy a stake in future profits from World Cups and all FIFA events. The Swiss-Italian official had largely shrugged aside the World Cup's politically motivated incidents that raised criticism and concern in the soccer world: The Iran team and a World Cup referee from Somalia could not stay in the United States, fans were denied entry visas, and soccer’s rule of law was ignored after Trump intervened to let U.S. player Folarin Balogun avoid a mandatory one-game ban. Infantino left New York City last week with letters pledging election support from about 200 of FIFA’s 211 national member federations who vote for their leader every four years. But the most powerful man in soccer, known for always thinking ahead, had a new, huge and secret project in mind. Infantino's proposal would create a subsidiary - known as FIFA Forward Enterprise (FFE) - for the money-making parts of the not-for-profit soccer body's work: Running tournaments like the World Cup, selling broadcasting and sponsorship, tickets and hospitality. Private equity and petrostate sovereign wealth money has been normalised in European club soccer, yet they still seem unthinkable for many observers in the World Cup - soccer's ultimate prize is about glory, not money, and fans have long believed the World Cup belongs to them. FIFA proposes raising $4.2 billion from investors buying stakes amounting to about 20% in FFE, based on an equity valuation of $20 billion. The "anchor investor” would be Thrive Eternal launched by Joshua Kushner, whose brother Jared Kushner is a son-in-law of Trump. FIFA’s 211 member federations - already effective owners of the governing body as a non-profit association under Swiss law - were offered $20 million each. The deadline to accept is Sept. 19. The members already are due $10 million each from FIFA over the next four years, funded largely by its record $15 billion revenue over 2023-26 tied to the World Cup just ended. FIFA says under FFE, that would double to $20 million each, then rise to $22 million each through 2034, and $24 million to 2038. That’s a huge sum for tiny soccer federations in places like Andorra, Montserrat and Papua New Guinea. Deep-pocketed soccer powers like England, Spain or France have other priorities. Some FIFA vice presidents, some of FIFA’s top executives, all the European soccer federations... the soccer bodies of Asia and North America, Britain’s Prime Minister, the global group of national leagues, a lot of fans worldwide. Infantino was looking increasingly friendless Friday. His senior adviser, former Goldman Sachs banker Carlos Cordeiro, resigned and called it a bad deal. FIFA chief operating officer Kevin Lamour gave a stinging statement to The Associated Press in defence of colleagues that all but invited his boss to fire him. A key move Thursday was European soccer body UEFA vowing to boycott all FIFA competitions until Infantino drops the plan. Europe’s teams routinely dominate and win FIFA trophies like the men’s World Cup and Club World Cup that are its biggest revenue earners. They collectively fear that private investors will seek - and demand - value from more games and bigger competitions that threaten the balance of global soccer. That could jeopardise attention and revenues for club soccer, including the Champions League. Fixture calendars are already congested, elite players are at their limits, broadcast and sponsor money is not unlimited. All are angry that Infantino seems not to have consulted anyone while planning the project over the last year, when he was so focused with spending time in Trump's orbit. U.S. President Donald Trump and FIFA President Gianni Infantino during the trophy presentation after a World Cup match. Picture credit: Reuters Infantino's traditional support base in Africa, which has 54 of the 211 voting members, has been neutral so far about the offers of game-changing money for many of them. The 10-nation South American group CONMEBOL has said nothing so far. It is led by FIFA vice president Alejandro Dominguez of Paraguay, wh