FIFA seeks $4.2bn from private investors in $20bn venture

By Lachlan Voss · 2026-07-29

FIFA announced on 28 July 2026 that it intends to establish FIFA Forward Enterprise (FFE), a wholly-owned subsidiary that would consolidate the organisation's broadcast, sponsorship, ticketing and licensing rights, and sell minority stakes to private investors to raise up to USD 4.2 billion based on an initial equity valuation of USD 20 billionverifiedVerified Source: ipt.fifa.com.^[1] FIFA said every dollar of net benefit would be reinvested back into football worldwide.

What FIFA is selling

FFE would house the operational delivery of FIFA tournaments alongside the global rights that make them valuable. FIFA would retain sole authority over governance, competition rules, the international match calendar and all regulatory decisions, with investors holding only non-controlling equity positions.^[1]

Investors would own a slice of the commercial upside, including a share of World Cup broadcast deals and sponsorship income, but would hold no vote over which teams qualify, where tournaments are held, or how the laws of the game are written.

The revenue logic and who is advising

FIFA President Gianni Infantino has set an ambitious revenue ceiling for the 2026 World Cup cycle. Infantino said he believes FIFA can top the USD 15 billion mark in revenue.^[2] That figure frames the FFE pitch: if commercial returns are growing at that scale, private capital becomes a vehicle to accelerate investment rather than merely a stopgap.

J.P. Morgan has been engaged to advise FIFA on the structure, with OpenEconomics also named as an adviser.^[1] Thrive Eternal, a permanent capital holding company launched by Joshua Kushner, is expected to lead the proposed investor group, with Greg Maffei named as a key commercial adviser.verifiedVerified Source: ipt.fifa.com^[1]

Infantino said FIFA's next stage of growth needs a structure built for it, one where the commercial side of the game operates as a focused, dedicated business, with its value shared more and better all around the world.^[1]

Who is refusing and why

UEFA convened its 55 member associations to discuss opposition to the plan, including the possibility of a boycott. The Football Association and Concacaf have each raised concerns, centring on the governance principle at stake: that private investors would hold a permanent, income-linked claim on the sport's most valuable commercial asset.

UEFA's objection is structural. Critics argue that even a minority, non-controlling stake creates an external party with a financial interest in decisions that are supposed to rest entirely with football's governing institutions. FIFA's design retains all regulatory powers inside the parent body, but that separation has not satisfied opponents who see the commercial and competitive arms of the sport as inseparable.

Whether it can be blocked

The plan requires a majority vote of FIFA's 211 member associations before it can proceed, as well as technical sign-off from the FIFA Council.^[1] The associations who stand to gain most from larger grants are the smaller federations across Africa, Asia, Oceania and the Caribbean, precisely the blocs whose votes are hardest for European governing bodies to sway.

UEFA's 55 votes represent roughly a quarter of the total. If FIFA can hold the support of confederations whose members face genuine development funding shortfalls, opposition from the wealthier European bloc may not reach the threshold needed to block ratification.

What the money means for Australian football

Guaranteed funding per member association would rise from USD 8 million in the current 2023-26 cycle to USD 20 million in 2027-30, then USD 22 million for 2031-34 and USD 24 million for 2035-38.verifiedVerified Source: ipt.fifa.com^[1] Separately, the FIFA Fast Forward Programme would allow each association to unlock an additional one-off USD 20 million in development capital on an optional basis.

For Football Australia, that shift in the funding baseline is substantial. National and state federations currently rely heavily on FIFA's per-cycle grants to finance coaching accreditation, grassroots infrastructure and junior pathways. A jump to USD 20 million per cycle, with further increases locked in beyond 2030, would transform what the Australian game can build without depending on domestic broadcast revenues or government grants.

Football Australia's position at a member association vote will shape not only its own funding trajectory but its standing within the Asian Football Confederation, where federation interests do not always align with those of UEFA's members. The FIFA Council has not yet announced a date for the formal vote of the 211 member associations.

Lachlan Voss

Lachlan Voss writes about corporate governance, executive pay and how boards behave. He is interested in who is accountable when things go well and when they don't.