FIFA's internal sales presentation to member associations openly ties the organisation's future financial growth to an expansion of tournaments, higher ticket prices and increased reliance on debt financing, according to a leaked document seen by the Guardian. The 25-page deck, titled «Fifa Forward Enterprise Member Materials», was produced by investment bank JP Morgan and is intended to persuade football federations to approve the creation of a new commercial entity. A 20% stake in that entity would be sold to Joshua Kushner, a US investor and brother of Jared Kushner, Donald Trump's son-in-law.
The document makes no reference to the women's game despite FIFA's public commitments to gender equality and the rapid growth of women's football in recent years. Critics have pointed out that the omission is striking at a time when the women's World Cup has drawn record audiences and sponsorship interest. The sales deck focuses instead on men's competitions and the commercial potential of expanding the men's tournament schedule.
Among the key proposals is a significant increase in the number of international tournaments organised by FIFA. The document suggests that more matches and more competitions will drive revenue growth, allowing the governing body to distribute larger sums to its 211 member associations. However, the plan also envisages higher ticket prices for fans and the use of debt financing to bridge short-term gaps, raising concerns about the financial sustainability of the model and the potential burden on supporters.
The proposal to sell a stake to a private investor has already sparked shock and outrage across the sporting world. Many football stakeholders worry that handing control of commercial rights to a single investor could lead to conflicts of interest, especially given Kushner's family ties to the Trump administration. Questions have also been raised about the governance of FIFA's commercial operations and whether member associations will have any oversight once the new company is established.
FIFA has long sought to increase its financial reserves, particularly after corruption scandals and the costly preparations for the 2022 World Cup in Qatar. The organisation's leadership, under President Gianni Infantino, has pushed for an ambitious growth agenda that includes a 48-team World Cup and a revamped Club World Cup. The leaked sales deck confirms that these expansion plans are central to FIFA's revenue projections, but also that they come with significant financial risk.
The omission of women's football from the pitch is particularly notable given that FIFA's own strategic objectives include promoting the women's game. The 2023 Women's World Cup in Australia and New Zealand was hailed as a commercial success, yet the sales deck does not mention any specific plans to invest in or commercialise women's competitions. This has led to accusations that FIFA is prioritising short-term revenue from men's tournaments over long-term development of the sport for all.
Member associations are expected to vote on the proposal in the coming months. If approved, the new commercial entity would assume control of all FIFA's broadcasting and sponsorship rights, potentially reshaping the financial landscape of global football. Opponents argue that the deal lacks transparency and that the debt financing element could leave FIFA exposed if revenue projections fall short. Supporters, however, point to the need for fresh capital to fund infrastructure and development programmes worldwide.
The revelation of the sales deck comes at a sensitive time for FIFA, which is still rebuilding trust after the corruption crisis of 2015. The organisation has sought to present itself as a modern, reformed body, but the reliance on debt and the involvement of politically connected investors risk reviving old criticisms. The coming weeks will be critical as football federations weigh the promises of financial growth against the potential loss of autonomy and the neglect of the women's game.
