June 28 – FIFA has enlisted UBS to raise up to $2 billion for the expansion of its streaming platform FIFA+, Bloomberg reports.
The world governing body is working with Switzerland’s UBS Group AG to raise $1 to $2 billion for the streaming platform that FIFA launched to offer a wide range of matches from around the world, and which to date has predominantly broadcast games from smaller markets and smaller member associations.
Bloomberg writes that FIFA and UBS will target financial investors for a minority stake in the platform in the US and the Middle East.
FIFA+ was launched in 2022 with president Gianni Infantino outlining that it was part of his mission to make football global, saying that “it underpins FIFA’s core mission of expanding and developing football globally”.
In its first year, the aim was to broadcast more than 40,000 matches, including more than 25% matches in the women’s game.
Bloomberg’s reports suggest FIFA is both accelerating the development of its streaming platform and seeking new revenue streams.
The world governing body has long struggled to generate substantial income outside its quadrennial World Cup, its flagship tournament.
Next year’s 32-team Club World Cup was planned to tap into the lucrative commercial market enjoyed by the clubs and confederation club competitions.
But FIFA has found the concept easier than the reality as it has struggled to find sponsors and broadcasters to underwrite the competition.
FIFA was in talks with Apple Inc for a global broadcast deal, but that did not materialise prompting reports in the US that it would put the whole competition at risk. The tournament will see major European clubs play under FIFA’s banner predominantly on the east coast of the United States.
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