FIFA has announced a plan to create a new commercial vehicle, FIFA Forward Enterprises (FFE), which it values at $20 billion. The organization intends to sell minority, non-controlling stakes in FFE to investors to raise approximately $4.2 billion this year. This capital is earmarked to significantly boost the funding for national football associations globally, with potential increases from $8 million to $20 million, then $22 million, and finally $24 million per association in subsequent World Cup cycles through 2038.
This initiative has, however, generated significant controversy, particularly from UEFA, Europe's football governing body. UEFA has strongly criticized the proposal, stating it "crosses a line that football’s governing institutions should never cross" and emphasizing that "the soul and governance of football are not assets to trade." They also raised concerns about a lack of transparency regarding potential beneficiaries of the deal.
FIFA argues that the plan is intended to democratize football worldwide and unleash its commercial potential, aiming to provide increased financial support for its 211 member federations. The proposal requires approval from a majority of these member associations. Josh Kushner's Thrive Eternal and JPMorgan are reportedly involved, with Thrive Eternal leading an investor group and JPMorgan acting as a financial adviser.
The backlash highlights a division within global football, with some viewing the move as a necessary financial restructuring to support development, while others, like UEFA and prominent figures such as Andy Burnham, see it as a commodification of the sport that fundamentally alters its spirit and governance. FIFA maintains it will retain sole control and exclusive authority over FFE.
FIFA generated an estimated $15 billion in revenue from the 2026 World Cup cycle, a substantial increase from the $7.57 billion earned during the 2022 cycle, demonstrating a growing commercial appetite that this new venture aims to capitalize on further.
