FIFA’s bold financial restructuring
FIFA is preparing to spin off a $20 billion commercial arm called FIFA Forward Enterprise, or FFE, that will bring together its commercial and event‑management functions under a single corporate umbrella.
The new entity is expected to tap external capital markets, targeting up to $4.2 billion in minority stakes, with the proceeds earmarked for reinvestment in the sport worldwide.
Gianni Infantino, the president of world football’s governing body, has framed the move as a way to broaden access to the game and to give member associations a larger share of the revenues that have traditionally flowed to FIFA.
Reactions and next steps
However, UEFA has voiced strong opposition, arguing that the very essence of football’s governance cannot be reduced to a financial transaction and warning that the proposal threatens the sport’s cultural integrity.
The plan will be put to a vote of FIFA’s 211 member associations and the FIFA Council, after which the organization will seek regulatory clearance and final approval.
To structure the financing, FIFA is collaborating with JPMorgan, and former Liberty Media chief executive Greg Maffei has been enlisted as a commercial adviser.
Thrive Eternal, the investment vehicle founded by Joshua Kushner, is positioned to lead the capital raise; the firm already holds a stake in the San Francisco Giants and counts former Disney chief Bob Iger among its advisers.
The involvement of high‑profile figures such as Bob Iger and the connection to the Kushner family underscore the cross‑industry appeal of the venture, even as Jared Kushner is ruled out as a direct investor.
If approved, the transaction would mark one of the most ambitious financial maneuvers in sports history, potentially reshaping how football’s governing bodies fund development projects.