Overview
- FIFA formally announced plans on Tuesday, July 28 to create FIFA Forward Enterprise, a wholly owned commercial subsidiary with an initial equity valuation of about $20 billion that would sell minority, non‑controlling stakes to raise up to $4.2 billion.
- The governing body says net proceeds would be reinvested in football development and that each of FIFA’s 211 member associations could access up to $20 million in one‑off capital if the plan is approved by members and the FIFA Council.
- Reports identify J.P. Morgan as an adviser and Thrive Eternal, led by Joshua Kushner, as a prospective lead investor, a detail that has intensified scrutiny because of Joshua Kushner’s family ties to President Trump.
- UEFA issued an immediate and forceful rejection, saying ‘‘It is not FIFA’s to sell,’’ and warned the proposal threatens the game’s governance; any final deal still requires consultation and approval from the 211 member associations.
- Critics cite governance and conflict‑of‑interest risks given FIFA’s past corruption scandals and say the plan could change how competitions and calendars are run; the U.S. House Judiciary Committee has also escalated document requests and testimony demands that could affect the proposal’s path.