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FIFA will consult member federations on plan to sell World Cup shares
FIFA plans to sell a minority stake by establishing a new company that will control the World Cup and the Club World Cup. The project, which targets $4.2 billion in initial capital, will be submitted for approval to member federations and the FIFA Council.
FIFA issued a statement on its plan to share the World Cup with investors. The statement said the project, named "FIFA Forward Enterprise (FFE)", will be discussed with the 211 member federations and the FIFA Council.
The statement added that FFE, which will consolidate FIFA's commercial rights and tournament operations under one roof, will operate as a wholly owned and controlled subsidiary of FIFA.
FIFA announced that it is collaborating with US-based investment bank J.P. Morgan. The statement noted that a standard valuation analysis by J.P. Morgan determined FFE's equity value at $20 billion.
The statement included: "Based on the initial valuation of $20 billion, FFE aims to raise up to $4.2 billion in initial capital by selling non-controlling minority shares to long-term investors."
FIFA emphasized that investors will only be minority shareholders and long-term partners, and will have no control over the project's management.
Infantino's plan
FIFA President Gianni Infantino's plan envisions the creation of a new company that will control the top men's and women's tournaments, the World Cup and the Club World Cup.
According to a report by British media outlet The Times, Infantino has given the 211 member federations until September 19 to approve the plan to sell World Cup shares.
If the proposal is accepted, each federation will receive up to $40 million in support. If rejected, the federations will be paid $10 million.
The Union of European Football Associations (UEFA), the Confederation of North, Central America and Caribbean Association Football (CONCACAF), as well as the English Premier League, Spain's LaLiga and Italy's Serie A, had reacted strongly to Infantino's plan.
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