FIFA plans to sell up to 21% stake in its subsidiary FIFA Forward Enterprise, valued at $20 billion, to raise approximately $4.2 billion from private investors. This entity would house the World Cup’s broadcast rights, ticketing, licensing and sponsorship income. The Union of European Football Associations (UEFA) condemned the plan hours after it was reported, calling football governance something no institution should trade. Joshua Kushner, through his investment fund Thrive Eternal, is reportedly leading the purchase, with JPMorgan Chase advising FIFA. The plan still requires approval from the FIFA Council and the organization’s 211 member associations.
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