Tech investors eye World Cup stake as FIFA abandons controversial funding plan

After fierce backlash, FIFA cancelled its Forward Enterprise scheme that would have allowed private investors to acquire a minority share of the World Cup, a move that sparked boycott threats and demands for President Gianni Infantino to step down. The initiative was driven by Thrive Eternal, a new investment arm of venture firm Thrive Capital founded by Joshua Kushner, who sees sport as a sector that will thrive despite AI advances.

Thrive planned to commit $4.2bn, with the expectation that each FIFA member could receive a stake valued at up to $91m, while FIFA would retain equity control. Former Disney CEO Bob Iger was brought in as an adviser, and the firm already owns part of the San Francisco Giants and is considering a Las Vegas NBA franchise. A source close to Thrive said the investment was intended for long-term development, not quick returns, aiming to fund stadiums and training in nations that lack external financing.

Critics argue FIFA does not need such cash, given the record revenues from the 2026 tournament. Nonetheless, interest in injecting private capital into football persists.