Fifa president Gianni Infantino's plan to sell a 21 per cent stake in the World Cup rights for $4.2bn has drawn significant opposition. Fan groups, Uefa, and politicians are concerned about the "American-style commercialisation" of football. Uefa members have threatened to boycott the next World Cup if Fifa proceeds.

The backlash raises questions about whether Fifa should sell stakes in its competitions and at what price. While commercialisation and investment are not inherently bad for football, selling a "trophy asset" at a "cut price" is problematic. The men's World Cup alone is projected to generate about $3.5bn annually.

A valuation of $20bn for the proposed Fifa Forward Enterprise, with a 21 per cent stake sale, suggests a multiple of under six times revenue. This is considered low compared to the market value of entities like Formula 1, given football's larger global fan base. Infantino could consider an auction or public listing to secure a better price and increase transparency.

The proposed sale to Thrive Capital, managed by a relative of Donald Trump's son-in-law, does not necessarily serve these goals. Infantino has demonstrated an ability to maximize revenue from fans, and he could apply a similar approach to securing better terms from investors if he believes the stake sale will benefit the sport.