FIFA Converts Forward Program into Enterprise, Sells 21% Stake to Raise $4.2 Billion at $20 Billion Valuation

On July 28, FIFA unveiled a commercial reform, converting its existing "FIFA Forward Program" into a commercial enterprise, "FIFA Forward Enterprise." By selling a minority stake to raise funds, the organization aims to significantly increase financial support to its member associations. Under the plan, during the 2027-2030 cycle, each association's funding will rise from the current $8 million to $20 million, increasing to $22 million in the 2031-2034 cycle, and $24 million in the 2035-2038 cycle.

FIFA stated that the enterprise has an initial valuation of $20 billion. FIFA will retain control while opening a minority equity stake to private investors, planning to raise up to $4.2 billion by selling a 21% stake.

Wall Street financial giant JPMorgan will serve as an advisor on the project; the bank was involved in financing the European Super League in 2021. Investment firm "Thrive Eternal" will act as the lead investor. Its founder is 41-year-old American businessman Joshua Kushner, whose brother is Jared Kushner and sister-in-law is Ivanka Trump.

The English Football Association confirmed that Infantino did not discuss the plan through the FIFA Council before its launch, and that he never mentioned it during previous council meetings. UEFA issued a statement saying the plan "crosses a line that football's governing bodies must never cross," adding that "the soul and governance of football are not assets for sale, especially when there is a complete lack of transparency about who benefits financially."

This marks the second time Infantino has attempted large-scale cooperation with private capital during his tenure at FIFA. In 2018, he proposed a $25 billion partnership with Japan's SoftBank to create new international competitions, including an expanded Club World Cup. That plan ultimately collapsed due to strong opposition from UEFA.