BBC Sport reported this week that FIFA president Gianni Infantino is considering a plan to sell off stakes in the World Cup. The article questions whether this is a step too far. For the crypto world, the news is a double-edged sword: it could open the door to tokenization of the world's biggest sporting event, but it might also trigger a regulatory firestorm that sets the industry back.
Why the plan is on the table
This isn't a proactive embrace of blockchain. FIFA's sponsorship income dropped 20% between 2018 and 2022, and the 2026 World Cup budget is projected at over $40 billion. The organization is feeling the squeeze. On top of that, the European Super League antitrust ruling from 2023 — where the EU Court of Justice said FIFA's prior approval rules may violate EU law — could force the body to open up its competitions to outside investors. Selling stakes now might be a preemptive move to lock in value before regulators force open access.
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The crypto promise and the peril
Many in crypto will cheer this as mainstream adoption. If FIFA tokenizes World Cup stakes, it could legitimize blockchain in sports and attract institutional capital. But there's a darker side. The World Cup is a non-fungible, politically charged asset. Tokenizing it would draw intense scrutiny from regulators like the SEC and from FIFA's own 211 member associations. The crypto community's eagerness to embrace any institutional involvement often blinds them to the risks of associating with a scandal-prone organization. A misstep could invite a crackdown that harms the entire market.
The governance maze ahead
Selling stakes in the World Cup means selling rights to a tournament jointly owned by 211 member associations. Any sale would require a supermajority vote at the FIFA Congress, and national associations will likely demand a cut. That's a political minefield. The only way to bypass it is to sell stakes in a future World Cup — say, 2030 or 2034 — where rights are less encumbered. Even then, the timeline is years, not months. Crypto media often treat such news as imminent catalysts, but the governance hurdles make this a long shot.
Infantino is expected to present the plan to FIFA's Council in the coming months. But without a supermajority vote, nothing moves. The real question isn't whether FIFA will tokenize — it's whether the organization can survive the political and legal battles long enough to try.
