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Topline FIFA is planning to sell minority stakes in the World Cup, multiple outlets reported on Tuesday, which would involve creating a new company and selling minority stakes to private investors at a valuation of $20 billion.
In a deal first reported by The Times and the Financial Times , FIFA is planning to raise an estimated $4.2 billion in 2026 by selling a reported 20% minority stake in a new subsidiary at an equity valuation of $20 billion.
FIFA confirmed the plans in an announcement on Tuesday morning, which said the new company would be called FIFA Forward Enterprise and would control the nonprofit organization’s “commercial and event operations.”
FIFA’s 211 member associations would each be given $20 million in funding if the deal goes through, the organization said, and annual funds to members would continue increasing through 2038.
FIFA said it would remain the primary owner of the new subsidiary and maintain control over scheduling competitions and matches, as well as governance and regulatory decisions.
Thrive Eternal, a fund created by Josh Kushner’s Thrive Capital that previously purchased a minority stake in the San Francisco Giants, will lead the investor group, FIFA said, and the nonprofit federation is being advised by bankers from JPMorgan.
The new plan would need to be approved by a majority of FIFA’s member associations.
FIFA president Gianni Infantino could play a major role in the new deal, the Times reported on Tuesday. Infantino is up for reelection as president next year, but is term-limited after 2031. Sources told the British newspaper Infantino could serve as a “commissioner” or chief executive of the new company after his final term, although the FIFA president later told the paper the idea “has never been discussed.” FIFA’s own statement did not elaborate on Infantino’s role in the future company. Infantino has been heavily criticized for his cozy relationship with President Donald Trump, whom he gave the inaugural “FIFA Peace Prize” to last December. FIFA reportedly consulted with the Trump administration on the plans, two sources told the Times. However, Jared Kushner, the president’s son-in-law and older brother of the Thrive Capital founder, is not one of the investors lined up.
The deal is highly controversial among soccer fans, analysts and other governing bodies for the sport. "This crosses a line that football’s governing institutions should never cross," UEFA, soccer’s governing body in Europe, said in a response to the reporting in the Times. “UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game. The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not FIFA's to sell.”
$15 billion. That’s how much FIFA made in revenue from the 2026 World Cup, according to the organization . It was a significantly higher haul compared to the estimated $7.57 billion made during the 2022 World Cup cycle. In a speech earlier this year, Infantino promised to “unleash the commercial potential and opportunity that FIFA has”—a comment the nonprofit has repeatedly pointed to in announcing the plans for the new venture.
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