• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing

3

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

1

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing

3

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Startups & VentureSports

European nations have won more than half of all World Cups. Now they’re threatening to boycott the next one

Catherina Gioino
By
Catherina Gioino
Catherina Gioino
News Editor
Down Arrow Button Icon
Catherina Gioino
By
Catherina Gioino
Catherina Gioino
News Editor
Down Arrow Button Icon
July 31, 2026, 4:59 PM ET
FIFA president Gianni Infantino proposed creating a new commercial entity called FIFA Forward Enterprise.
FIFA president Gianni Infantino proposed creating a new commercial entity called FIFA Forward Enterprise.Mohamed Farag - FIFA/FIFA via Getty Images
Add Fortune on Google for similar content.

This year’s World Cup was the most profitable in FIFA’s history, just as Gianni Infantino promised. FIFA’s own figures put the 2026 tournament’s revenue at roughly $9 billion to $13 billion, well above the $11 billion FIFA had forecast before the event. Revenue across FIFA’s full 2023–2026 cycle, which includes the Club World Cup and Women’s World Cup alongside the men’s tournament, is on track to top $15 billion, which Infantino called proof the tournament had “opened a lot of doors, a lot of opportunities, a lot of possibilities.” That’s roughly double the $7.5 billion FIFA brought in during the 2022 Qatar cycle.

Recommended Video

Now Infantino wants more. FIFA is reportedly studying whether to expand the 2030 World Cup from 48 to 64 teams. The vehicle is a plan called FIFA Forward Enterprise, announced nine days after that record-setting tournament closed, and it’s why the European contingent, which has won more World Cups than any other confederation, is now threatening to sit out the next one.

That revenue arrived with the costs falling largely on someone else. As Fortune has reported, FIFA’s contracts assigned security, transportation and stadium retrofits to host cities, while keeping the revenue from tickets, sponsorship and media for itself.

A $40 million incentive to accept

European teams have won more than half (13) of the 23 men’s World Cups played since 1930. Europe has taken four of the last five titles and seven of the last ten, including this summer’s, when Spain beat Argentina in the final. Those teams currently hold six of FIFA’s top 10 men’s world rankings, and made up six of the eight quarterfinalists and three of the four semifinalists at this year’s tournament.

So when FIFA restructured the World Cup this year—assigning security, transportation and stadium retrofits to host cities, while keeping the revenue from tickets, sponsorship and media for itself—a good portion of that huge profit went back to FIFA, and the costs often fell on someone else, like this year’s 16 host cities.

FIFA revealed the FFE proposal on July 28: A commercial subsidiary valued at $20 billion that would stay under FIFA’s control while selling minority stakes to outside investors, raising up to $4.2 billion and paying each of FIFA’s 211 member associations up to $40 million. Thrive Capital, founded by Jared Kushner’s brother Joshua, is expected to lead the investor group.

FIFA set September 19 as the deadline for members to accept the deal, which needs 75% support to pass. Initially, Infantino offered $20 million per association to accept the deal, but then doubled it to $40 million the next day after backlash began. This is particularly noteworthy given many of the 211 member associations rely on FIFA funding in the first place: the $40 million is a pretty penny to balk at.

Many of FIFA’s 211 member associations depend on FIFA funding just to keep running: smaller federations often use FIFA Forward money to cover basic costs like coaching programs, youth development and administrative overhead. Against that backdrop, Infantino’s initial $20 million offer, then doubled to $40 million within a single day of the backlash beginning, isn’t a nice-to-have. For federations already leaning on FIFA’s support, it’s the kind of money that’s difficult to walk away from on principle alone.

That revenue arrived with the costs falling largely on someone else. As Fortune has reported, FIFA’s contracts assigned security, transportation and stadium retrofits to host cities, while keeping the revenue from tickets, sponsorship and media for itself.

An imminent showdown

That’s exactly what critics say makes the structure look less like a genuine consultation and more like leverage. The Union of European Football Associations (UEFA) is Europe’s official governing body for soccer in the continent, and manages 55 national member associations while running major sporting tournaments of its own. UEFA has called the arrangement “governance by intimidation” rather than a legitimate vote, saying FIFA didn’t just propose a plan and ask members to weigh in; it attached a large, time-limited payment to a September 19 deadline, effectively pressuring cash-strapped federations to sign on before they’ve had time to fully assess what they’d be trading away.

As a result, UEFA said its members will boycott the men’s and women’s World Cup unless FIFA drops the plan, calling it “not merely a profound failure of leadership, but an abdication of FIFA’s duty as the custodian of world football.”

“So long as Europe has a voice, it will never be for sale.”

The backlash hasn’t stopped there. CONCACAF, or the Confederation of North, Central America and Caribbean Association Football, one of FIFA’s six continental governing bodies for association football, called it a “lack of due process.” The Asian Football Confederation said it was “disappointed” it hadn’t been consulted, and the EU’s sport commissioner, Glenn Micallef, posted: “Hands off our game.”

The plan cost Infantino an ally too: per CNN, senior advisor Carlos Cordeiro resigned, calling it “a bad deal for FIFA’s Member Associations, a bad deal for football, and a bad deal for the long-term future of the game.”

Infantino defended the plan as “an opportunity but not an obligation.” FIFA itself said “nobody is selling football” and blamed “erroneous reporting” for the uproar.

It’s a familiar move for Thrive. The firm built much of Kushner’s fortune on an early, concentrated bet on OpenAI, investing first at a $29 billion valuation, then at $86 billion, then roughly $1 billion more at $150 billion as OpenAI’s value climbed toward $500 billion. Kushner is known for his concentrated bets rather than spreading capital thin. The FFE proposal extends that same approach from a fast-growing startup to global soccer’s flagship event.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Catherina Gioino
By Catherina GioinoNews Editor
Instagram iconLinkedIn iconTwitter icon

Catherina covers markets, the economy, energy, tech, and AI.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Startups & Venture

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Startups & Venture

Y Combinator‑backed AI startup is under fire after its founder offered instant interviews to partygoers who got company tattoos, then apologized
Startups & VentureTech
Y Combinator‑backed AI startup is under fire after its founder offered instant interviews to partygoers who got company tattoos, then apologized
By Marco Quiroz-GutierrezJuly 31, 2026
52 minutes ago
Studio portrait of Leopold Aschenbrenner
Startups & VentureHedge Funds
The power couple of AI is getting married in Carmel, days after groom Leopold Aschenbrenner’s hedge fund nearly blew up
By Eva RoytburgJuly 31, 2026
52 minutes ago
European nations have won more than half of all World Cups. Now they’re threatening to boycott the next one
Startups & VentureSports
European nations have won more than half of all World Cups. Now they’re threatening to boycott the next one
By Catherina GioinoJuly 31, 2026
54 minutes ago
Jensen Huang speaks into a microphone
SuccessCareers
Jensen Huang says this is the greatest time in history to start a business—and his advice is to stop overthinking it: ‘How hard can it be?’
By Preston ForeJuly 31, 2026
6 hours ago
Tim Cook’s last quarter as Apple CEO: record iPhone sales, stock still falls
Big TechMarkets
Tim Cook’s last quarter as Apple CEO: record iPhone sales, stock still falls
By Barbara Ortutay and The Associated PressJuly 31, 2026
9 hours ago
ronnen
SuccessBook Excerpt
The competition passed on a flying toy. We built it into $100 million dollar business
By Ronnen HararyJuly 31, 2026
11 hours ago

Most Popular

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
15 hours ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
21 hours ago
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
2 days ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
2 days ago
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
Personal Finance
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
By Nick LichtenbergJuly 31, 2026
15 hours ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
6 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.