JPMorgan linked to new FIFA commercial deal amid World Cup boycott threats
JPMorgan Chase is involved in a proposed sale of a portion of FIFA's commercial assets, a move that has coincided with calls from European nations to boycott the upcoming World Cup.
JPMorgan Chase is a principal participant in a plan to restructure FIFA's commercial operations ahead of the 2026 World Cup. The proposal, developed with venture capitalist Joshua Kushner, would create a separate company to hold FIFA's commercial assets and sell about 20 percent of it to private investors for roughly $4.2 billion, valuing the entire business at $20 billion.
The deal comes as several European governments have threatened to boycott the tournament, and FIFA President Gianni Infantino faces calls for his resignation.
In 2021, JPMorgan had previously backed a failed breakaway "Super League" project and issued an apology after the initiative collapsed amid widespread protests. The bank's chief executive, Jamie Dimon, said the firm had misjudged the reaction of soccer fans at the time.
Analysts note that the current transaction could reshape the financial landscape of international soccer, but it also raises concerns about the sport's governance and the potential impact of the boycott threats on the World Cup's commercial prospects.