The International Federation of Association Football (FIFA) is aiming to raise up to $2 billion to expand its free streaming service, “+FIFA,” which was launched to provide live match coverage, according to sources familiar with the matter.
FIFA is collaborating with UBS Group to secure between $1 billion and $2 billion to enhance the service, the sources, who requested anonymity due to the confidentiality of the information, revealed.
A formal fundraising campaign is expected to commence in July, primarily targeting financial investors from the United States and the Middle East, the sources added.
The discussions are still in the early stages, and details such as the timing and the amount of funds to be raised may change.
The investment would be in exchange for a minority stake in “+FIFA,” the sources noted.
Sports leagues, including golf tournaments and local football leagues, have resorted to separating and selling media rights to raise capital, allowing investors to earn revenue from future advertising and broadcasting.
Launched in April 2022, “+FIFA” is a free, ad-supported streaming service that initially aimed to broadcast 40,000 live matches per year, with at least a quarter of those being women’s matches.
So far, “+FIFA” has offered live broadcasts in smaller markets, including last year’s Women’s World Cup, which was mostly available for free in countries where FIFA had not sold television rights.
Currently, “+FIFA” is streaming the OFC Men’s Nations Cup, with New Zealand set to play Vanuatu in the final on June 30.
FIFA has previously sought capital on multiple occasions, focusing on funding new tournaments in addition to the main FIFA World Cup.
In 2018, a $25 billion deal led by SoftBank Group aimed to invest in a joint venture to finance two new tournaments.
Investors were to receive revenues from FIFA’s gaming and merchandise companies. However, the attempt was postponed following opposition from European members.
As FIFA continues its efforts to innovate and expand its digital offerings, the potential investment in “+FIFA” could significantly enhance its reach and impact in the global sports broadcasting landscape.
