FIFA is working on a plan to raise as much as $4.2 billion from external investors, with football's governing body opening itself to outside investment for the first time.
Joshua Kushner's Thrive Eternal is among potential backers for a new vehicle called FIFA Forward Enterprise that will house media and commercial rights, according to a statement Tuesday.
The proposed entity, which will include broadcasting and sponsorship assets, would initially be valued at about $20 billion. FIFA is working working with
"Football is the world's most popular sport and an extraordinary engine of human and social development," FIFA President Gianni Infantino said in a statement. "Parts of the game have turned that popularity into remarkable commercial value."
The move represents a significant departure from FIFA's traditional funding model and comes as the body seeks to capitalize on the commercial momentum generated by the recent World Cup in the US, Canada and Mexico.
The plan would give outside investors exposure to the future value of FIFA's broadcasting and sponsorship portfolio, while providing the organization with a substantial pool of capital to distribute to member associations.
Commercial craze
Under a proposed structure being discussed, investors would not receive dividends or regular cash distributions. Instead, their potential return would come from any increase in the value of FIFA Forward Enterprise, allowing them to sell their stake at a later date.
The majority of the money generated by the entity would ultimately be distributed to FIFA's member associations through the FIFA Forward program, which provides funding for football development projects around the world.
The new entity would allow FIFA to put a market value on some of its most valuable commercial assets at a time when demand for premium live sports rights is high. Golf's PGA Tour did something similar in 2024 with the launch of PGA Tour Enterprises, a for-profit commercial arm. A number of football leagues in Europe have done the same.
The World Cup is FIFA's principal revenue generator, attracting broadcasters, sponsors and advertisers seeking access to one of the world's largest sporting audiences.
Sole control
Thrive Eternal is the latest venture from Kushner, whose VC firm Thrive Capital has backed private companies including OpenAI and Cursor. Thrive Eternal
Kushner's elder brother Jared is married to President Donald Trump's daughter Ivanka Trump. FIFA boss Infantino is close to Donald Trump, having
FIFA said it would retain sole control of the new vehicle via majority board representation. Consulting firm OpenEconomics is also engaging with potential investors, according to FIFA's statement.
