FIFA President Gianni Infantino has never lacked ambition. During his decade as head of soccer’s world governing body, he has expanded the World Cup, created an enlarged Club World Cup, increased prize money and transformed FIFA into one of the wealthiest organizations in global sports.

Now he is pursuing what could become the most consequential decision in FIFA’s history: Inviting private equity investors to own a stake in the commercial future of the World Cup.

The plan goes beyond financial restructuring. It represents a fundamental debate over who should control the game’s most valuable tournament and whether FIFA is evolving from a nonprofit organizations into something resembling a multinational entertainment brand.

The backlash has been swift. UEFA declared that “the World Cup is not FIFA’s to sell.” As a result, they have threatened to boycott the next World Cup in 2030. Other confederations have also publicly complained, including the AFC and CONCACAF.

The speed and intensity of the resistance shows that many of the world soccer’s power brokers view the plan as an existential challenge rather than merely another commercial initiative.

At the heart of the proposal is a new subsidiary valued at $20 billion that would manage FIFA’s commercial rights. Private investors would own 20% of the venture, led initially by Thrive Capital (the investment firm founded by Joshua Kushner, the brother of President Donald Trump’s son-in-law), with J.P. Morgan overseeing the fundraising process. In exchange, FIFA’s 211 member associations would each receive an immediate $20 million payment, if they approve the plan by........

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