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FIFA’s plan to bring private equity investment into global football is opening a new chapter in its long-running struggle with Europe over the sport’s power, finances and commercial control. The world football governing body, led by President Gianni Infantino, is considering the creation of a subsidiary valued at around $20 billion. The proposed company would manage the World Cup and other major FIFA events. Under the plan, outside investors could acquire stakes of up to 20% in the new entity. The proposal has already triggered strong opposition from European football authorities. UEFA has criticised the idea and accused FIFA of putting the “soul” of football at risk by allowing private investors greater access to the sport’s most valuable competitions. Infantino has defended the proposal as an effort to make football’s financial system more inclusive. He has described the initiative as a form of “democratisation” that could allow more football nations to benefit from the sport’s growing commercial revenues. The plan could also provide financial incentives to FIFA’s 211 member associations. Under the proposal, each association could receive up to $20 million in immediate funding for special projects. Further grants of $20 million or more could be provided during subsequent four-year cycles. Such funding could prove particularly attractive to smaller and emerging football nations that depend heavily on FIFA for financial support. FIFA already generates billions of dollars through broadcasting rights, sponsorships and other commercial agreements. The organisation had set a revenue target of $13 billion for its previous four-year cycle, which included the latest World Cup and the Club World Cup. However, FIFA’s financial strength remains smaller than the overall commercial value of European football. UEFA reported that Europe’s top club competitions generated around €4.4 billion during the 2024-25 season alone. Football competitions across Europe generated more than €40 billion during the same period, according to Deloitte’s annual football finance review. The continent’s five major domestic leagues — the Premier League, Bundesliga, LaLiga, Serie A and Ligue 1 — accounted for more than half of that revenue. FIFA has spent decades trying to reduce Europe’s dominance over the global game. The organisation’s leadership has repeatedly sought to give greater influence to football associations in Africa, Asia and Latin America. Former FIFA president João Havelange was a major figure in that effort. He expanded the World Cup and built political support among smaller football nations, helping shift the balance of influence within FIFA. Successive FIFA presidents continued that approach. Infantino has expanded the World Cup from 32 teams to 48, increasing opportunities for countries outside Europe’s traditional football powers. The FIFA president has also suggested that a 64-team World Cup could be considered for the 2030 centenary tournament. The idea followed calls from South American football’s governing body CONMEBOL for an expanded competition. The proposal has faced criticism from European football officials. LaLiga president Javier Tebas has accused FIFA of damaging the sport. His criticism reflects wider concerns in Europe about the growing number of international competitions and the commercial expansion of FIFA. FIFA has previously attempted to attract external investment into its competitions. A proposed expansion of the Club World Cup backed by a consortium led by SoftBank in 2018 failed to materialise after strong resistance from UEFA. The latest private equity proposal could face a similar challenge. However, Infantino has a major advantage within FIFA’s political structure. The organisation’s decisions are determined by its global membership rather than European football alone. FIFA has 211 member associations, meaning support from Africa, Asia, Latin America and other regions could allow Infantino to advance the plan despite European opposition. Experts believe the financial incentives could make the proposal attractive to developing football nations. Eric Windholz, an associate professor at Monash University’s law faculty, said countries in the Global South could find the plan appealing because their domestic football competitions generate far less commercial income than major European leagues. The regional football authorities have also reacted cautiously