FIFA Moves Faster with Plan to Launch New World Cup Spin-off

FIFA is moving quickly with plans to launch a new business linked to the FIFA World Cup and hopes to secure its first round of funding from private investors within the next 100 days, according to information obtained by Sky News.

The governing body of world football is planning to establish a new subsidiary valued at around $20 billion (£15 billion). As part of the plan, FIFA intends to sell more than 20% of the new company, called FIFA Forward Enterprise, by raising approximately $4.2 billion (£3.16 billion) from outside investors.

Internal documents indicate that FIFA wants to complete the fundraising and have the money secured by October. This comes despite FIFA President Gianni Infantino telling member associations that only a "consultation process" has recently begun regarding the proposal.

Earlier this week, Sky News reported that several European football associations had discussed the possibility of boycotting the FIFA World Cup if Infantino continued with plans to sell a stake in FIFA's commercial operations to private investors.

According to a source, UEFA member nations are set to hold an emergency virtual meeting later this week to discuss their concerns and opposition to FIFA's proposal to create a new commercial company backed by external investment.