JPMorgan Gets Entangled in FIFA's $4.2 Billion Asset Sale Crisis
Updated
Updated · The New York Times · Aug 4
JPMorgan Gets Entangled in FIFA's $4.2 Billion Asset Sale Crisis
2 articles · Updated · The New York Times · Aug 4
Summary
$4.2 billion is at the center of FIFA's latest crisis, with JPMorgan helping line up investors for a plan to sell about 20% of a new company holding the body's commercial assets.
Gianni Infantino had worked on the structure for more than a year with Joshua Kushner, aiming to carve out rights including the World Cup into a separate business valued at roughly $20 billion.
JPMorgan's role was to recruit backers alongside Thrive Eternal, a unit of Kushner's Thrive Capital, for the private investment tied to the carve-out.
The backlash has escalated beyond finance: European nations threatened a World Cup boycott, and Infantino is facing calls to resign.
The episode again puts JPMorgan in a soccer governance storm after its financing role in the failed 2021 European Super League drew fan protests and a rare public apology.
Why did a secret $4.2 billion plan to privatize the World Cup collapse, and what does it mean for football's future?
Could JPMorgan's second massive football financing failure permanently lock Wall Street out of the world's most valuable sports assets?
Was UEFA's fierce boycott threat truly about protecting football, or just a power play to keep FIFA's global wealth in check?
The 2026 FIFA FFE Crisis: UEFA’s Boycott, Investor Exodus, and the Fall of a $20 Billion Privatization Plan
Overview
In July 2026, FIFA President Gianni Infantino launched the $20 billion FFE commercial spinoff, pressuring all 211 member associations to support it or face major funding cuts. UEFA and its 55 members unanimously rejected the plan and threatened a total boycott, putting billions in World Cup revenues at risk. This forced Infantino to withdraw the proposal, but not before key investors like Thrive Capital and JPMorgan pulled out due to the controversy. The fallout led to resignations, public dissent within FIFA, and a loss of trust in Infantino, with major nations withdrawing support and a real threat of a no-confidence vote emerging. The crisis also triggered global demands for governance reform and legal action against those involved.