ZURICH, Switzerland — FIFA has announced plans to raise US$4.2 billion by selling minority stakes in a newly created commercial subsidiary that will manage the business operations of the FIFA World Cup and other international competitions, while insisting it will retain full control over football governance.
In a statement issued on Tuesday, world football’s governing body said it would establish FIFA Forward Enterprise (FFE), a semi-private commercial entity that will oversee the commercial activities of FIFA tournaments.
FIFA said it intends to retain a majority stake in the new company while inviting carefully selected long-term investors to acquire minority, non-controlling interests.
The organisation said the planned transaction values FFE at approximately US$20 billion, with the fundraising expected to take place later this year.
According to FIFA, the new structure will allow it to strengthen its financial position while maintaining exclusive authority over football governance, competitions, regulations and the international match calendar.
“FIFA would retain sole control of FFE and exclusive authority over football governance, competitions, match calendar, and all regulatory and sporting decisions,” the governing body said.
The announcement came in response to reports by British newspaper The Times, which cited leaked documents and unnamed sources claiming FIFA President Gianni Infantino could assume a senior leadership role in the commercial entity after the end of his expected term in 2031.
The newspaper also reported that discussions had already begun with potential investors, including Joshua Kushner, the brother of Jared Kushner, and an investment arm of JP Morgan Chase.
European football governing body UEFA reacted sharply to the proposal, warning that football’s governing institutions should not commercialise ownership of the sport.
“This crosses a line that football’s governing institutions should never cross,” UEFA said in a statement.
“The soul and governance of football are not assets to trade. None of us are the owners of football. It is not FIFA’s to sell.”
FIFA rejected suggestions that the move would affect its independence, maintaining that only commercial operations—not sporting governance—would be housed within the new subsidiary.
As part of the proposal, FIFA’s 211 member associations will each be offered the opportunity to purchase a one-time US$20 million stake in FFE, representing approximately 0.1 per cent ownership.
The governing body said the initiative could increase total football development funding to more than US$10 billion over the next four years through its existing FIFA Forward programme and the proceeds from the investment.
The proposal comes as FIFA projects record revenues exceeding US$8 billion during the expanded 2026 FIFA World Cup, which will feature 48 teams for the first time.
Earlier this year, Infantino also confirmed discussions had taken place regarding the possibility of expanding the 2030 FIFA World Cup to 64 teams, a proposal that has generated mixed reactions across global football.
Critics have warned that private investment in FIFA’s commercial arm could create pressure to further expand major tournaments or increase their frequency in order to maximise investor returns.
The latest proposal also revives memories of a failed 2019 attempt by FIFA to secure US$25 billion in private investment for an expanded Club World Cup, a plan that was ultimately rejected by FIFA stakeholders.
Despite the criticism, FIFA maintains the restructuring is designed to strengthen its commercial operations while safeguarding the independence of football administration worldwide.
