ZURICH: FIFA is planning to sell a significant minority stake in a new commercial entity with a valuation of about US$20 billion, a source familiar with the matter told Reuters on Tuesday.
World soccer’s governing body is working with bankers at JPMorgan to raise billions of dollars by bringing in external investors to take as much as a 20% stake in the entity, the source said, adding that former Liberty Media CEO Greg Maffei has been involved as a commercial adviser on the creation of the Fifa enterprise.
Fifa did not immediately respond to a request for comment.
“Thrive Eternal, a new investment strategy launched by venture capital firm Thrive Capital, is expected to be a lead investor in the entity,” the source said.
The strategy is a permanent capital vehicle focused on making a small number of long-term investments in franchises and cultural institutions.
Thrive Eternal took a minority stake in Major League Baseball’s San Francisco Giants this year.
The vehicle was founded by Joshua Kushner, the brother of Jared Kushner, US president Donald Trump’s son-in-law. Former Walt Disney CEO Bob Iger serves as an adviser.
The Financial Times first reported on the stake sale.
