It shouldn’t surprise anyone that FIFA doesn’t seem to be satisfied with the estimated $15 billion in revenue they made off the 2026 World Cup.
The haul dwarfed the estimated $7.5 billion made in 2022, when the event still included just 32 teams—16 fewer than the bloated line-up of 48 that competed in Canada, Mexico, and the United States. It also overshadows the $4.4 billion in revenue generated by the Champion’s League, soccer’s most prestigious club competition.
You would think $15 billion would be enough for FIFA. After all, we’re playing soccer here, not ending world hunger or landing astronauts on the moon. But as the writer of Ecclesiastes noted, ‘he who loves money will not be satisfied with money” and so FIFA seems unsatisfied with its multi-billion dollar haul.
Their next step, FIFA president Gianni Infantino announced on Tuesday, is to raise $20 billion in private investment by selling equity in the world’s biggest tournament. The organization plans to create a new subsidiary called FIFA Forward Enterprise, which would oversee commercial and event operations like broadcast deals, sponsorship packages, and ticketing.
In exchange, member nations would each receive $20 million on approval, plus three further payments of $20 million, $22 million, and $24 million between 2027 and 2038. For comparison, members nations can expect to receive a mere $8 million in “forward funding” between 2027 and 2030. For heavily populated soccer powerhouses like England, Brazil, or World Cup winners Spain, that’s lunch money. For smaller nations like Cyprus, Samoa, or San Marino, it’s program-changing.
Infantino pitched the development as a way to financially aid those smaller nations, which is certainly one way to frame it. Here’s another, FIFA got a taste of the financial pie usually reserved for big-time US-based sports organizations like the NCAA or NFL, and they want another bite.
I might be inclined to give FIFA the benefit of the doubt if the organization didn’t have a trail of questionable financial dealings leading to all four corners of the earth. I would also help if they hadn’t smuggled three minute commercial breaks into the 2026 World Cup under the guise of “hydration”. How many people actually believe this was done with the benefit of the players in mind, and not because it gives broadcasters a chance to sell more advertising? I’m sure there are some, but the number can’t be that high.
It would also help if FIFA hadn’t moved mountains to hold the 2022 event in Qatar, where working conditions were reportedly so bad the international non-profit Human Rights Watch needed a 42-page guide just to summarize all the violations. I could go on for another 400 words here.
In short, FIFA is supposed to look out for the good of the game, the good of the players, and the good of the fans. When looking at the organization’s track record, I’m not convinced they’re doing that, so why would I expect them to reverse course once they start selling pieces of the world’s most popular sporting event.
There’s also the sports aspect to consider. It’s not clear the people who run FIFA actually understand why the tournament is so popular. People love the World Cup for the same reason they love Christmas: it’s rarity. Try telling your kids Santa’s coming down the chimney 52 times a year and watch their eyes glaze over while they play Roblox or something. Hold a World Cup every year instead of every four years, and nobody except influencers, social climbers, or sports gluttons who think “more soccer is always a good thing” will care.
The World Cup’s exclusivity also gives it prestige. It should be a tough tournament to qualify for. That’s why Canadians went crazy when Canada tied Bosnia and Herzegovina in the opening game of the 2026 tournament. It means so much because it’s so hard to get there. Expanding from 32 to 48 (and perhaps again to 64 in the next World Cup) dilutes the pool and means a World Cup appearance isn’t nearly as special.
And while I support ensuring smaller countries have more resources to develop their teams, FIFA needs to accept that International events will never be truly balanced. Barring the appearance of a once-in-a-generation prodigy, nations like Cape Verde or Curacao will always be plucky underdogs because of their small populations. Meanwhile, Teams like England or Brazil will always have an advantage because they have such a large pool of players to draw from. That inequality is baked into the international pie.
If FIFA starts selling off shares, investors are going to want a financial return. If the organization does not understand why the World Cup is popular, I doubt it’s going to do a good job of fending off the financial gluttons who just want to make a quick million off fans of the world’s most popular game.
Fortunately UEFA, the governing body that oversees European international soccer, doesn’t seem so impressed with the FIFA Forward Enterprise. UEFA has already said European nations will not participate in future World Cups unless this plan is scrapped. I’m not sure how long they will be able to hold out, but it’s good to see them taking a stand. Let’s UEFA’s North American counterpart, CONCACAF, follows. If they don’t, hopefully Canada will.
It seems like a corny cliché, but soccer truly is one of the few things that unites the world. It would be incredibly cynical to sell if off piece by piece.
Jason Kerr is the editor of the Prince Albert Daily Herald.
