FIFA plans to sell stake in new $20B commercial entity

FIFA is planning to sell a minority stake in a new commercial vehicle valued at approximately $20 billion, the Financial Times reported on Monday, marking the first time world football's governing body has opened itself to outside investment as it seeks to capitalize on the record-breaking commercial success of the 2026 World Cup.

The Deal Structure

The entity, which would house FIFA's broadcasting and sponsorship assets, is being assembled with the help of JPMorgan Chase ↘ 0.11%, according to the Financial Times. FIFA aims to raise up to $4.2 billion by offering as much as a 20% stake in the new vehicle, with proceeds to be distributed to member associations through its FIFA Forward development program.ft+2

Joshua Kushner's Thrive Capital is among the potential backers for the deal, while former Liberty Media CEO Greg Maffei is serving as a commercial adviser. Kushner's firm, which manages roughly $25 billion in assets, launched a permanent capital subsidiary called Thrive Eternal earlier this year focused on acquiring stakes in cultural assets that "cannot be replicated by technology".axios+2

Riding the World Cup Wave

The move comes as FIFA rides an unprecedented wave of commercial momentum. The 2026 World Cup, hosted across the United States, Canada, and Mexico, generated revenue exceeding $9 billion according to early estimates, far surpassing initial forecasts. FIFA had projected total revenues of $11 to $13 billion for the 2023-2026 commercial cycle, a roughly 50% increase from the previous period.gabelli+2

Broadcasting rights alone exceeded $4 billion for the first time, while sponsorship revenues surpassed $2.8 billion. FIFA is already preparing to sell U.S. media rights for the 2030 and 2034 tournaments as a bundled package that some executives estimate could be worth as much as $4 billion.sportsvalue+1

A New Model for Football Governance

The stake sale would represent a structural shift for FIFA, which has historically operated as a nonprofit association funded by the commercial proceeds of its tournaments. The organization reported reserves of almost $4 billion heading into the World Cup cycle. The FIFA Forward program, which would receive the proceeds, has invested over $5 billion to date supporting more than 200 member associations with football development projects.facebook+1

The deal also reflects a broader trend of private equity and institutional capital flowing into football, from CVC Capital Partners' investments in European leagues to individual club ownership deals. FIFA's entry into this arena, however, would operate at a scale and scope unlike any previous sports commercialization effort.footballbenchmark