AFC says Fifa is 'undermining the very foundations of football' after World Cup stake sale to Thrive Capital
The Asian Football Confederation says Fifa is 'undermining the very foundations of football' after the governing body agreed to sell part of the World Cup's commercial rights to private investors. Uefa has called an emergency meeting for Thursday amid the dispute.
The dispute centres on a recent commercial transaction in which Joshua Kushner’s Thrive Capital is reported to have been offered a stake. In a letter dispatched on Thursday, AFC president Salman bin Ibrahim al-Khalifa wrote to the confederation’s 47 members to register concern over the move. The correspondence criticises what AFC describes as unilateral action by Fifa in structuring the deal without consulting the continental bodies.
AFC’s message explicitly objects to the process through which the agreement was concluded, arguing that confederations were not included in discussions about the future commercial framework. The letter from Salman bin Ibrahim al-Khalifa was sent to all 47 member associations and frames the transaction as a challenge to established governance arrangements. The confederation says the lack of consultation undermines collective decision-making across world football.
The commercial arrangement under scrutiny involves a proposed new company and a purchase of a 20% stake by Thrive Capital. That new company would, according to the details set out to member associations, control the commercial rights of all global tournaments. AFC’s letter condemns Fifa’s decision to proceed with the partnership on that basis, describing the action as taken without adequate engagement with the confederations.
Uefa has responded to the controversy by convening an emergency meeting on Thursday to consider the implications of the transaction. Reports suggest the meeting has been called to coordinate a response among European national associations and to discuss the wider governance questions raised. The timing of Uefa’s gathering has added pressure on Fifa and on confederations to clarify how commercial rights will be governed going forward.
Officials within AFC and across other confederations have been weighing the potential shift in commercial control represented by the new structure. The 20% transaction and the concentration of tournament commercial rights in the proposed company have raised questions about the balance of influence between Fifa, the confederations and private investors. AFC’s communication to its members frames the episode as one with systemic implications for how global tournaments are managed and monetised.
Salman bin Ibrahim al-Khalifa’s letter to the 47 member associations rejects the unilateral nature of the agreement and urges a reconsideration of the consultation process. The confederation also suggests its position may be pivotal in shaping collective responses from the sport’s regional bodies. With Uefa meeting on Thursday, confederations appear set to debate the commercial and governance consequences of the Thrive Capital stake.
The dispute leaves a series of immediate questions about how commercial rights will be allocated and governed across world football. With Uefa convening an emergency session and AFC mobilising its membership, the coming days are likely to determine whether the deal remains intact or prompts changes to the way global tournaments’ commercial frameworks are negotiated.