FIFA has announced plans to form a commercial subsidiary that would oversee marquee competitions including the men’s World Cup, in a proposal that values the business at US$20 billion and envisages raising up to US$4.2 billion from private investors later this year.
Privatisation plan and investor interest
Under the proposal, the new entity — reported to be called FIFA Forward Enterprise (FFE) — would sell minority, non‑controlling stakes to carefully selected long‑term investors, according to FIFA’s statement. The governing body said it is working with J.P. Morgan on the transaction.
Media reports identified one possible backer as Thrive Eternal, an investment vehicle linked to Joshua Kushner. The Kushner family name is politically prominent in the United States because of Joshua’s brother Jared Kushner, who is the son‑in‑law of former U.S. President Donald Trump.
European confederation objects
The announcement prompted a swift and sharp response from European football’s governing body, UEFA, which criticised the proposal as a step too far.
"It is not FIFA's to sell," UEFA said in a statement. "None of us are the owners of football."
UEFA’s comments framed the plan as an improprietous commercialisation of the sport’s governance, adding that the “soul and governance of football are not assets to trade,” and raising concerns about the lack of transparency regarding who would benefit financially.
What FIFA says it will fund
FIFA indicated part of the purpose of the fundraising would be to support global development programmes. The Finances section of the announcement specified that proceeds would be used to help fund development initiatives, while emphasising that any investor would acquire a non‑controlling interest.
At present, FIFA is a Swiss‑based not‑for‑profit association of 211 national member associations. The proposal represents a major shift in the way the organisation structures and monetizes its competitions.
Immediate consequences and wider context
- Governance debate: UEFA’s response underscores a broader debate about governance and the limits of private capital in internationally governed sports.
- Political scrutiny: The involvement of high‑profile American investors with political ties is likely to intensify scrutiny both in Europe and beyond.
- Commercial strategy: FIFA is signalling a desire to capitalise further on the World Cup and other events by tapping private capital markets.
The plan arrives at a sensitive moment. The recent men’s World Cup — which FIFA ran this month — drew attention to close relationships between certain football executives and political figures, intensifying concerns expressed by UEFA about outside influence and the appropriate boundaries for commercial arrangements.
| Item | Detail |
|---|---|
| Proposed valuation | US$20 billion |
| Planned fundraising | Up to US$4.2 billion |
| Transaction advisor | J.P. Morgan |
| Possible investor (reported) | Thrive Eternal (Joshua Kushner) |
FIFA’s statement framed the arrangement as a way to secure long‑term funding for football development while emphasising that any investments would be minority stakes. But critics contend that selling economic interests in flagship competitions risks ceding influence over the sport’s priorities and raises questions about accountability and transparency.
UEFA’s forceful rebuttal suggests the plan will not be implemented without political and legal challenges from other major stakeholders in world football. How national associations, confederations and governments respond could determine whether the proposal proceeds, is modified or is abandoned.
For supporters, private capital can unlock fresh resources to invest in development, infrastructure and competitive growth. For detractors, it threatens the notion that football’s governance should remain in the hands of its member associations rather than driven by investors seeking returns.
The coming weeks are likely to see intensified debate as more details emerge about who would invest, the rights attached to any stakes and the safeguards FIFA will put in place to protect the sport’s governance.
