FIFA tests the limits of private equity in sports with World Cup subsidiary sale

The FIFA World Cup Trophy is displayed at MetLife Stadium ahead of the FIFA World Cup Final on July 15, 2026, in East Rutherford, New Jersey.Jordan Bank - Fifa | Fifa | Getty ImagesGlobal soccer may be finding the limits to private equity's stampede into sports. A plan by FIFA to sell a minority stake in a new subsidiary — FIFA Forward Enterprises, or FFE — that would control the business side of the World Cup has faced swift backlash. UEFA, the governing organization of European soccer, and Concacaf, the organization controlling North American soccer, have both rejected the proposal out of concern for outside influence. FIFA said earlier this week it plans to raise $4.2 billion from third parties, valuing FFE at about $20 billion. Thrive Capital, a private equity firm led by Joshua Kushner, has already backed the plan. But on Thursday, UEFA threatened to boycott FIFA competitions and the World Cup if the plan moves forward. "The World Cup cannot be treated as an investment product," UEFA said in a statement. "No part of it should ever be surrendered to private investors. The World Cup is not for sale."Get the CNBC Sport newsletter directly to your inboxThe CNBC Sport newsletter wi...