FIFA has announced controversial plans to create a new commercial company, FIFA Forward Enterprise, to manage and run major competitions like the World Cup. Valued at $20 billion, the proposed entity aims to raise $4.2 billion by selling minority, non-controlling stakes to private equity investors.
Europe’s governing body hits back
European football’s governing body, UEFA, launched a fierce backlash against the plan, warning that selling shares in global tournaments threatens the core of the sport. Strongly objecting to the move, UEFA declared, “This crosses a line that football’s governing institutions should never cross.”
Concerns over financial transparency
UEFA cautioned that commercializing tournament ownership undermines proper sports administration and leaves room for unethical motives.
In a passionate statement, the organization urged national associations to stand firm, stating, “The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially.”
Private equity and high-profile backers
The proposed investor group would be led by Thrive Eternal, an investment firm launched by Joshua Kushner. FIFA argues the initiative will boost development funds for its 211 member nations but critics worry about private influence over global soccer. Emphasizing that no single entity owns the game, UEFA asserted, “None of us are the owners of football. It is not FIFA’s to sell.”
