FIFA plans to sell minority stake in USD20b entity, UEFA cries foul
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The news: FIFA unveiled a plan to sell a minority stake in a new commercial entity valued at about USD20 billion ($28.7 billion), opening football’s governing body to external investors for the first time.
The numbers: The Switzerland-based non-profit said in a statement it was working with JPMorgan to raise up to USD4.2 billion this year through the vehicle, named FIFA Forward Enterprise, which would house its broadcasting, sponsorship and event operations.
The plan was first reported by The Times.
Joshua Kushner, whose brother Jared is married to US President Donald Trump’s daughter Ivanka, is in talks to lead the deal through his Thrive Eternal fund.
What they said: FIFA said it would retain sole control via majority board representation, with money raised distributed to its 211 member associations.
The plan, which requires approval from a majority of members, drew an immediate backlash from European governing body UEFA.
“It is not FIFA’s to sell,” UEFA said in a statement. “None of us are the owners of football.”
FIFA president Gianni Infantino, who has cultivated close ties with Trump, said the plan was about “the democratisation of football worldwide”.
It is the second time Infantino has sought private capital, after a USD25 billion SoftBank proposal collapsed in 2018.
The sources: FIFA, UEFA, The Times, Financial Times
