The International Federation of Association Football (FIFA) is moving to establish a subsidiary to manage the commercial and event operations of the World Cup, with plans to sell a portion of its stake to private investors. This initiative has sparked controversy, particularly as it is rumored that the family of President Donald Trump may participate in the investment.
According to the Financial Times on July 28, FIFA is in discussions with U.S. investment bank JP Morgan and external investors to raise up to $4.2 billion for the new company, named FIFA Forward Enterprise (FFE). The subsidiary is expected to oversee FIFA's commercial activities and the operations of major tournaments like the World Cup. The new entity's valuation is estimated to reach around $20 billion.
Discussions are reportedly underway for a fund managed by Joshua Kushner, brother of Jared Kushner, President Trump's son-in-law, to lead the investment. FIFA President Gianni Infantino has been showcasing a close relationship with President Trump, particularly in light of the upcoming 2026 North American World Cup, which has drawn attention to the potential involvement of investors connected to the Trump family.
The Times of London also reported, citing multiple sources, that FIFA is considering establishing a company to oversee the commercial operations of both the men's and women's World Cups, as well as the Club World Cup.
Draft discussions between FIFA officials and potential investors indicate that FIFA intends to retain a majority stake in the new company. Private investors are expected to invest billions initially to secure a 20-30% stake, while the 211 member football associations of FIFA would collectively hold about 20% of the shares.
This plan is seen as an effort by Infantino, who has transformed FIFA into a large commercial organization, to attract private capital for further growth.
FIFA, a non-profit organization formed by its 211 member football associations, is headquartered in Switzerland and enjoys tax-exempt status. Its projected revenue from 2022 to 2026 is estimated at $15 billion, primarily from broadcasting rights, sponsorship deals, and ticket sales for the men's World Cup.
Controversy Over FIFA's Pro-Trump Moves
However, UEFA has immediately opposed FIFA's plans to sell private stakes. In a statement, UEFA declared, "Football is neither a possession nor a commodity," criticizing the move as crossing a line that football governing bodies should never breach.
Concerns have also been raised that if private investors participate in FIFA's core operations, there may be pressure to expand the scale of the World Cup or shorten the current four-year hosting cycle to increase profitability. The Times reported that some potential investors have described the deal internally as akin to buying FIFA.
The future of Infantino's position is also a topic of speculation. The Times suggested that Infantino could take on a role as 'Commissioner' or CEO of the new company after his FIFA presidency ends in 2031, potentially earning a substantial salary.
FIFA denied any discussions regarding Infantino's future role, stating, "Such matters have never been discussed." However, FIFA emphasized that if the plan is approved, it must continue to control the subsidiary in accordance with FIFA regulations that prioritize the interests of its members, asserting that the FIFA president and executive committee must play a leading role in the company.
The commercialization of FIFA is intertwined with Infantino's efforts to expand his political influence. The New York Post reported on July 23 that President Trump is considering Infantino as a candidate for the next UN Secretary-General.
Infantino has maintained a close relationship with President Trump, notably awarding him the inaugural 'FIFA Peace Award' during the preparations for the North American World Cup. As FIFA pushes for commercialization and Infantino seeks to enhance his political clout, concerns about FIFA's independence and governance structure are growing.
* This article has been translated by AI.
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