MOSCOW, July 30. /TASS/. /TASS/. The creation of FIFA Forward Enterprise, which is set to become a subsidiary of the world’s governing football body, FIFA, will boost the profits of FIFA member associations and contribute to the development of football worldwide, FIFA President Gianni Infantino said on Thursday.
"FIFA Forward Enterprise is a proposal, an opportunity and part of a democratic consultation process with the 211 FIFA Member Associations and the FIFA Council," Infantino stated on his page on Instagram (banned in Russia as it’s owned by Meta Corporation, which is designated as an extremist organization in Russia).
"If approved, it would become a FIFA-owned and controlled subsidiary, consolidating FIFA’s commercial and event operations by commercializing and organizing all FIFA-owned competitions, along with sponsorship, broadcast, licensing and new ventures, for the benefit of FIFA Member Associations, unlocking previously uncaptured commercial value," the FIFA chief continued.
"Strengthening the commercial side of the game is the natural next step in FIFA’s evolution after a decade of governance reforms and expanded development. Through the FIFA Forward Program, funding would increase from $8 million to $20 million per FIFA Member Association, with the option to access a further $20 million through the new FIFA Fast Forward Program," Infantino noted.
