FIFA is planning to create a $20 billion subsidiary to manage the commercial and event operations of the World Cup and other competitions, with plans to sell minority stakes of up to 20% to external investors.
The proposal would allow FIFA to raise up to $4.2 billion while maintaining full control over the new entity, known as FIFA Forward Enterprise (FFE), which would oversee business operations linked to the global football governing body’s biggest events.
FIFA said the funds raised would be channelled back into football development worldwide, including infrastructure, coaching, national teams, competitions and the women’s game.
The plan, however, has triggered strong criticism from UEFA, which accused FIFA of treating football as a financial asset rather than a global sporting institution.
“UEFA takes it extremely seriously,” UEFA said in a statement.
“So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
“The soul and governance of football are not assets to trade, especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA’s to sell.”
FIFA President Gianni Infantino defended the move, saying football’s commercial success should be used to expand opportunities across the sport.
“Football is the world’s most popular sport and an extraordinary engine of human and social development,” Infantino said.
“Parts of the game have turned that popularity into remarkable commercial value and we celebrate that success and want it to continue, because it lifts the whole game.
“Our job is to make sure the rest of football grows with it: FIFA exists to support sustainable, inclusive development in every corner of the world.”
FIFA said external investors would only hold minority positions in FFE and would have no operational role, while the organisation would retain authority over football governance, competitions, the match calendar and sporting decisions.
Investor Interest Draws Global Attention
FIFA said it is working with JPMorgan to attract investors, with former Liberty Media chief executive Greg Maffei involved as a commercial adviser.
Thrive Eternal, an investment vehicle founded by Joshua Kushner, brother of Jared Kushner who is US President Donald Trump’s son-in-law, is expected to lead the investor group.
The investment platform, launched by venture capital firm Thrive Capital, focuses on long-term investments in franchises and cultural institutions. It previously acquired a minority stake in Major League Baseball’s San Francisco Giants.
FIFA stressed that investors would be buying into a subsidiary rather than FIFA itself.
“Outside investors will have only a minority stake in FFE and will not play any operational role,” FIFA said.
“Equally, they are investing in a subsidiary of FIFA, and not in FIFA itself. For FIFA, nothing changes.”
Growing Divide Between FIFA And UEFA
The proposal comes amid growing tensions between FIFA and UEFA, with European football’s governing body increasingly positioning itself as a protector of traditional football structures.
UEFA President Aleksander Ceferin has previously clashed with FIFA over issues including disciplinary procedures, refereeing arrangements and match operations. He also skipped the 2026 World Cup final following disagreements with football’s global governing body.
Britain’s Prime Minister Andy Burnham also criticised the proposal, arguing that football should not become an investment product.
“The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone’s to sell,” Burnham wrote on X.
“Dress the deal up however you like. Once you have sold a piece of it, you have sold out.”
Richard Sheehan, a finance professor at the University of Notre Dame who studies sports economics, described the move as a “money grab” by FIFA leadership.
“From the perspective of a not-for-profit organisation, theoretically raising money to make soccer available to everyone, this move is a farce,” Sheehan said.
FIFA said the proposal will be presented to its 211 member associations and the FIFA Council, which will have the final authority over whether the plan proceeds.
Reuters
