FIFA seeks private investors for World Cup rights in $20bn plan
Why it matters: UEFA blasted the proposal, and FIFA still needs backing from a majority of its 211 member associations.
FIFA is pushing to create a new commercial arm that would sell minority stakes in the rights to the men’s and women’s World Cups and the Club World Cup, a plan that values the venture at about $20 billion and has drawn an immediate backlash from UEFA. The new unit, FIFA Forward Enterprise, would handle commercial operations while FIFA keeps control of sporting matters. FIFA said the structure could expand development funding by more than $10 billion, with member associations able to access up to $20 million in one-off capital. The proposal still requires approval from FIFA’s 211 member nations. FIFA said JP Morgan is advising on the effort, while sources in multiple reports linked Joshua Kushner’s investment network to the investor search.