Key facts
- FIFA plans to create a new subsidiary, FIFA Forward Enterprise (FFE), to manage commercial rights for the World Cup and Club World Cup.
- The venture is valued at $20 billion, with FIFA aiming to raise over $4 billion by selling minority stakes.
- UEFA has strongly criticized the plan, calling it a sale of football's "soul" and governance.
- FIFA argues the move will democratize football funding and increase distributions to member nations.
- Potential investors include Joshua Kushner's Thrive Eternal fund, with JPMorgan advising FIFA.
FIFA's plan to establish FIFA Forward Enterprise (FFE), a subsidiary valued at $20 billion to manage commercial rights for the World Cup and Club World Cup, has ignited fierce opposition from UEFA. The European football governing body accused FIFA of "selling football’s soul" and warned that the move "crosses a line that football’s governing institutions should never cross." FIFA intends to raise over $4 billion by selling minority, non-controlling stakes to investors like Joshua Kushner's Thrive Eternal fund, with JPMorgan reportedly advising. FIFA maintains the initiative aims to democratize football funding and increase distributions to its 211 member federations, while asserting it will retain full control over governance and sporting decisions. This marks FIFA's second attempt at such a private investment deal, following a previously resisted proposal with SoftBank.