FIFA plans to raise up to $4.2 billion by selling minority stakes in the new company while keeping full control over the rules, governance, and sporting decisions. Joshua Kushner’s investment firm, Thrive Eternal, is expected to lead the investor group if the proposal receives final approval.
The plan has sparked strong opposition from UEFA, European soccer’s governing body, which argues that football’s “soul and governance” should never be sold to private investors. FIFA, however, says the investment would help grow the sport worldwide and provide each of its 211 member associations access to as much as $20 million in funding.
The proposal must still be approved by FIFA’s council and a majority of its member associations before any deal can move forward. If approved, it would become one of the biggest business transactions in soccer history and could permanently change the financial future of the FIFA World Cup.