FIFA is poised to launch a new commercial vehicle called FIFA Forward Enterprise, or FFE, that would carry a valuation of roughly twenty billion dollars.
The venture is designed to tap external capital, targeting up to four point two billion dollars through minority stakes, with the proceeds earmarked for development programmes across the globe.
To bring the financing to market, FIFA has enlisted JPMorgan and is working with a roster of advisers that includes former Liberty Media chief executive Greg Maffei and Thrive Capital’s newly minted investment arm, Thrive Eternal. The latter is expected to lead the funding round, having previously acquired a stake in the San Francisco Giants of Major League Baseball.
The structural move has drawn sharp words from UEFA, whose president Aleksander Ceferin warned that commercialising the sport’s governance could undermine its integrity and transparency.
Governance debate intensifies
While external investors will hold only a minority share and will have no say in day‑to‑day operations, the involvement of figures such as Joshua Kushner, whose family firm founded the vehicle, and former Disney chief Bob Iger, who advises Thrive Eternal, adds a high‑profile dimension to the project. Notably, Jared Kushner, the president’s son‑in‑law, is not being considered as an investor.
The Financial Times was the first to disclose the stake sale, underscoring the growing intersection of sport, finance and global development. Whether the model will set a precedent for other governing bodies remains to be seen, but the conversation about the commercial future of football’s administration is already reshaping the landscape.