FIFA announced Tuesday that it plans to create a semi-private subsidiary to oversee the commercial operations of the World Cup and its other competitions, opening the door to outside investment while retaining overall control.
World football's governing body said it would keep a majority stake in the new entity, FIFA Forward Enterprise (FFE), but aims to raise $4.2 billion later this year by offering minority, non-controlling stakes to carefully selected long-term investors.
The announcement came in swift response to reports published by British newspapers The Times and the Financial Times, which cited leaked details of the proposal from two sources familiar with the matter.
According to The Times, FIFA president Gianni Infantino, 56, could eventually benefit from the restructuring by becoming commissioner of FFE after his anticipated term ends in 2031. FIFA rejected the claim, saying no such discussions had taken place.
The report also said FIFA has already begun holding talks with financial advisers and potential investors about the planned venture.
