FIFA is preparing to spin off the commercial rights to the World Cup into a new venture called FIFA Forward Enterprises, or FFE. The move would let outside investors purchase as much as a 20% stake in the subsidiary, which is projected to be valued at around $20 billion and could raise up to $4.2 billion in capital.
A Controversial Commercial Shift
The proposal, championed by FIFA president Gianni Infantino, has already drawn sharp criticism from UEFA and several European football bodies, which argue that the tournament’s governing body is overstepping its authority by trying to sell a global event that belongs to the sport itself.
Infantino says FIFA will retain ultimate control of the venture, but critics warn that opening the World Cup to private equity could give investors undue influence over scheduling, revenue distribution and even the sport’s regulatory decisions.
The backlash has taken on a political dimension. Britain’s newly appointed prime minister Andy Burnham recently posted on X that the World Cup is “not a product,” while Infantino’s close ties to former U.S. president Donald Trump have added another layer of scrutiny.
The financing side of the plan is being led by Thrive Capital, the venture‑capital firm founded by Joshua Kushner, whose brother Jared is married to Trump’s daughter. J.P. Morgan has been tapped to manage the deal, which still requires approval from a majority of FIFA’s 211 member associations and its 37‑member council.
Observers note that FIFA’s not‑for‑profit status means any surplus is funneled back into football development, but the new commercial model could reshape how the organization funds its projects and how member nations vote on future reforms.