FIFA Plans Sale of Stake in New Tournament Business
FIFA plans to sell a minority stake in a new commercial entity managing its major tournaments, aiming to raise US$4.2 billion to expand funding for national football associations.
FIFA intends to divest a substantial minority interest in a newly formed entity that will oversee the commercial operations of its premier tournaments, including the FIFA World Cup and the FIFA Club World Cup.
The organization plans to utilize the proceeds to significantly augment financial support for national football associations.
Under the proposed plan, which requires approval from a majority of FIFA's 211 member associations and the FIFA Council, a new company named FIFA Forward Enterprises (FFE) will be established. This company will assume all commercial responsibilities, while FIFA will maintain its role as the global governing body for football and retain a controlling interest in the new venture.
FIFA aims to sell up to a 21% stake in FFE to private investors, anticipating a capital raise of approximately US$4.2 billion. These funds would be allocated to a new FIFA Fast-Forward Programme (FFFP), specifically designed to finance projects undertaken by national football associations.
JP Morgan is acting as the primary financial adviser for this transaction. The investor consortium is expected to be spearheaded by Thrive Eternal, an investment firm founded by Joshua Kushner, who is the brother of Jared Kushner, son-in-law to U.S. President Donald Trump.
If approved, FIFA's development programs are projected to surpass US$10 billion over the next four years. Each of the organization's 211 member associations could receive an additional US$20 million for specific projects through the FFFP.
Funding under the existing FIFA Forward program would also see a considerable increase. Member associations currently receive US$8 million during each four-year cycle. This amount is set to rise to US$20 million in the upcoming cycle, US$22 million in the 2031-2034 cycle, and US$24 million in the 2035-2038 cycle.
FIFA President Gianni Infantino informed member associations that a decision on the proposal should be reached by September 19, 2026, to ensure the new funding becomes available from January 1, 2027. He emphasized that the commercial potential of global football should be distributed more equitably, providing every association with sufficient resources for independent development.
The proposal has elicited varied responses. UEFA characterized the sale of a stake in the commercial rights of world football as a "red line," contending that football should not be subjected to such transactions, particularly without complete transparency regarding the beneficiaries.
Hans-Joachim Watzke, vice president of the German Football Association, labeled the proposal an "attack on football." The Confederation of North, Central America and Caribbean Association Football (Concacaf) expressed dissatisfaction at learning about the plans through media reports rather than official consultations. La Liga President Javier Tebas connected the initiative to FIFA's presidential election scheduled for March of next year.
Despite the criticism, some experts point out that similar models have already been implemented in other sports organizations.
Commercial stakes have previously been sold by the French and Spanish football leagues, comparable mechanisms are under discussion in Germany and Italy, and similar approaches have been employed in Formula One and professional golf.
FIFA anticipates record revenue of approximately US$15 billion for the current four-year cycle, surpassing its initial forecast of US$13 billion and nearly doubling the total from the previous cycle.
According to experts, the establishment of a separate commercial company could facilitate further revenue growth through the continued expansion of FIFA's flagship tournaments.