What’s behind growing European threats to boycott the next FIFA World Cup?

American venture capital firm Thrive Eternal is expected to lead the investor group for FFE, founded by Joshua Kushner — the brother of U.S. President Donald Trump's son-in-law.

Members of the Union of European Football Associations (UEFA) are threatening to boycott FIFA World Cup tournaments following a virtual emergency meeting among the soccer body’s 55 member nations.

A boycott would see top European contenders such as France, England, Portugal and Spain, the sporting event’s recently crowned world champions, out of future men’s or women’s FIFA World Cup tournaments. The next scheduled FIFA tournament is the women’s under-20 World Cup hosted by Poland, starting on Sept. 5.

Just over two weeks after the 2026 World Cup tournament wrapped up, which resulted in a record income of about $12 billion, what led to this breakdown?

FIFA president Gianni Infantino announced a plan to create a $20-billion company with private investors on Tuesday, which would form a commercial subsidiary called FIFA Forward Enterprise (FFE).

The FFE would run competitions, including the World Cup, and would “invite third parties to make minority, non-controlling investments” into the company.

FIFA said in a statement the FFE would raise up to $4.2 billion later this year to help fund development programs “based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests.”

“This is about the democratization of football worldwide,” Infantino said in the statement, which added that “a consultation process has begun.”

However, if Infantino’s plan is approved, American venture capital firm Thrive Eternal is expected to lead the proposed investor group for FFE, which was founded by Joshua Kushner — the brother of U.S. President Donald Trump’s son-in-law Jared.

Banking institution J.P. Morgan is currently advising the world football’s governing body.

To be enacted, the plan needs to be passed by a vote of FIFA’s 211 members. Infantino has also written to members that they will receive $40 million (30 million pounds) as a result of accepting his plan.

A deadline of Sept. 19 has been set for federations to respond and gain access to an initial $20 million (15 million pounds).

In a statement released on Thursday, the UEFA “unanimously and unequivocally reject FIFA’s proposal to transfer ownership interests in the World Cup and other FIFA competitions to private investors.”

“The World Cup cannot be treated as an investment product. It is one of football’s greatest sporting legacies. It has been built over generations by players, national teams and supporters across every continent,” the statement reads. “No part of it should ever be surrendered to private investors.”

“As a result of today’s discussion, no UEFA national teams will participate in any FIFA competition for so long as these proposals remain alive, unless this proposal has been abandoned in its entirety and binding assurances have been given that FIFA will never again open its governance or competitions to private ownership.”

The statement also reads: “Some things are simply too important to sell. The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.”

The statement came after the UEFA held an emergency virtual meeting Thursday, chaired by its president Aleksander Ceferin.

Tuesday’s announcement is the second time Infantino has attempted this kind of deal with private investors. In 2018, he proposed a secretive $25 billion offer with SoftBank of Japan that was set to span over 12 years.

Infantino wanted to create new global competitions, including an expanded men’s World Cup, seemingly backed by Saudi Arabian money. The plan failed following severe backlash from UEFA.

Despite this, Infantino built closer ties to Saudi Arabia’s Crown Prince Mohammed Bin Salman, with the nation currently set to host the 2034 World Cup.

Infantino was already under the microscope during this year’s World Cup after communication with Trump regarding a red card handed out to American player Folarin Balogun in the U.S. match against Bosnia and Herzegovina on July 1.

Balogun was sent off directly for planting his cleated foot on the ankle of Bosnia and Herzegovina defender Tarik Muharemovic during a 2-0 win for the U.S. in the round of 32, a challenge that had been a routine red card all season in competitions worldwide and that has, in some past cases, resulted in a two-game ban for serious foul play.

Trump said at the time he did not pressure FIFA to overturn the call, saying he “didn’t tell them what to do” and “can’t tell them what to do.”

Infantino’s statement on the matter says that “FIFA’s judicial bodies are independent.”

Infantino’s latest gamble has the potential to end his 11-year run as FIFA president, as the Nov. 18 deadline for potential candidates to declare a presidential vote with FIFA members looms. The vote is scheduled for March 2027.

Another term would be his last as FIFA’s leader, which would last until 2031.

The 61-year-old has already received pushback from FIFA members regarding his re-election, with the German Football Association the most notable nation to be among a handful of members refusing to sign a letter to put forth Infantino as a candidate for another term.