FIFA creates $20B entity amid World Cup sale
FIFA announced the creation of a new commercial entity valued at $20 billion, with the goal of raising $4.2 billion through the sale of minority stakes to external investors, in order to fund football development and support the economic growth of the federation. The new entity is headed by "FIFA Forward Enterprise," while FIFA remains solely responsible for match regulation and sporting decisions. The stake sale proposal has faced strong criticism from the European Football Union (UEFA), which regards the sale of football rights as a violation of ethics. FIFA, on the other hand, asserted that this step would enhance funding and sustainability in football worldwide. Additionally, The Times revealed that the sale process involves participation from private sector investors, including Jared Kushner, Trump’s son-in-law. There are also plans to sell stakes in the World Cup, with possibilities of expanding the tournament and changing its scheduling.
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