FIFA moves to sell up to 20% stake in World Cup business
Why it matters: The plan could raise $4.2 billion and faces backlash from UEFA ahead of a Sept. 19 vote by member federations.
FIFA has moved to carve its World Cup and other competitions into a new commercial subsidiary, opening the door for outside investors to buy as much as a 20% stake. The body said FIFA Forward Enterprises could raise up to $4.2 billion, implying a $20 billion valuation, while FIFA would keep ultimate control. President Gianni Infantino is pitching the deal as a way to expand development funding for national federations, including an initial $20 million for members that back the plan by Sept. 19. UEFA blasted the proposal as a threat to football’s governance and said the sport was not FIFA’s to sell.