FIFA Plans $20 Billion Commercial Subsidiary Amid UEFA Backlash

FIFA plans to establish a $20 billion commercial subsidiary, the FIFA Forward Enterprise, and raise up to $4.2 billion by selling minority stakes to long-term investors. The organisation says the move will increase funding for football development worldwide, but UEFA has strongly criticised the plan, arguing that football's governance and commercial rights should not be treated as assets for investors. The proposal also raises questions about transparency and FIFA's growing links with US-based investors.

FIFA has announced plans to establish a new commercial subsidiary valued at $20 billion and sell minority stakes to selected investors, a move that has triggered strong criticism from European football's governing body, UEFA.
The world football governing body said on Tuesday that the proposed FIFA Forward Enterprise (FFE) would consolidate its commercial and event operations while allowing long-term investors to acquire non-controlling interests.
FIFA is asking its 211 member associations to support the plan, arguing that the move would immediately increase funding available for football development around the world.
However, UEFA has strongly opposed the proposal, warning that football's governing institutions should not treat the sport's commercial and governance structures as assets for investors to trade.

FIFA SEEKS BILLIONS FROM INVESTORS

Under the proposed structure, FFE would be valued at approximately $20 billion, with FIFA aiming to raise as much as $4.2 billion this year by selling minority, non-controlling stakes to carefully selected investors.
The new company would manage some of FIFA's most valuable commercial activities, including broadcasting rights, sponsorships, ticketing and licensing.
The World Cup represents FIFA's biggest commercial asset, although the company's operations would also cover other major competitions, including the FIFA Club World Cup.
FIFA said all net benefits generated by FFE would be reinvested into football worldwide, although the organisation has not provided detailed information about how investors would benefit financially from their stakes.

INFANTINO SAYS PLAN WILL EXPAND FOOTBALL FUNDING

FIFA President Gianni Infantino presented the proposal as part of an effort to expand football development and distribute more resources across the global game.
He argued that the commercial side of FIFA should operate as a focused business while the value it generates is shared more widely among football associations and communities.
Infantino also promoted the FIFA Fast Forward Programme, which FIFA says is intended to increase investment in football development, including in smaller and less wealthy football nations.
The proposal appears particularly aimed at FIFA's wider membership, where many associations have significantly fewer financial resources than the major football nations in Europe and elsewhere.

UEFA WARNS FIFA IS CROSSING A LINE

UEFA reacted sharply after details of the plan emerged.
The European football governing body said the proposal "crosses a line that football's governing institutions should never cross".
UEFA also questioned the lack of transparency surrounding the financial arrangements and warned that the sport's governance should not be treated as an investment asset.
"None of us are the owners of football. It is not FIFA's to sell," UEFA said.
The disagreement adds to longstanding tensions between FIFA and UEFA, which have clashed over several issues involving the direction and commercial future of international football.
However, UEFA represents only about a quarter of FIFA's 211 member associations, meaning opposition from European football alone may not be enough to stop the proposal.

US CONNECTIONS DRAW FRESH ATTENTION

The announcement has also raised questions about FIFA's growing commercial links with the United States.
The plan comes after the 2026 World Cup, which was primarily hosted in the US, Canada and Mexico, and FIFA listed several US-linked investors and advisers in connection with the proposed subsidiary.
FIFA President Gianni Infantino's close relationship with US President Donald Trump has also attracted scrutiny in recent years.
FIFA said Thrive Eternal, a permanent capital holding company established by Joshua Kushner, is expected to lead the proposed investor group, subject to final agreements and required approvals.
Kushner is the brother of Jared Kushner, Trump's son-in-law and a senior figure who has been involved in international negotiations.
FIFA also said Greg Maffei, formerly the chief executive of Liberty Media during its ownership and acquisition of Formula 1, had served as a key commercial adviser and would remain involved in the creation of FFE.
Investment bank JP Morgan and Rome-based economic consultancy OpenEconomics are also reportedly working with FIFA as it engages potential investors.

FIFA PROMISES GLOBAL INVESTMENT

FIFA said it intends to create a geographically diverse group of investors and has received expressions of interest from major regions around the world.
The organisation argues that bringing in long-term investors could provide additional capital and commercial expertise while allowing FIFA to increase its investment in football development.
The proposed structure is also being compared by FIFA to commercial subsidiaries used by other international sports governing organisations.
The governing body insists that investors would not take control of FIFA or its football governance functions.

QUESTIONS OVER TRANSPARENCY AND CONTROL

Despite FIFA's assurances, the proposal is likely to face continued scrutiny over transparency, governance and the financial interests of outside investors.
UEFA's criticism reflects a broader concern about whether commercial investment could eventually influence decisions that affect competitions, clubs, players and national associations.
The debate also raises questions about who ultimately benefits from the commercial value generated by global football and whether greater investment will genuinely reach smaller football associations.

WHAT HAPPENS NEXT

The proposed FIFA Forward Enterprise will require approval from FIFA's member associations and the completion of agreements with potential investors before it can move forward.
If approved, the initiative could represent one of the biggest changes to FIFA's commercial structure in its history.
Supporters say the plan could unlock billions of dollars for football development and expand the sport's reach across less wealthy regions.
Critics, led by UEFA, fear that opening FIFA's commercial operations to outside investors could create new governance risks and reduce transparency.
The dispute is therefore likely to continue as FIFA seeks support from its global membership and UEFA pushes back against what it sees as an unacceptable commercialisation of football's governing institutions.