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Fifa officially launches Club World Cup commercial process

(Photo by Francois Nel/Getty Images)

Fifa announced on Saturday the launch of a process “to invite various commercial and investment proposals” for its revamped Club World Cup competition, which starts in 2021.

Last week, it was reported that football’s world governing body was in talks private equity firm CVC Capital Partners about investing in the event.

In a press release on Saturday, Fifa said it had received “a high level of interest from companies potentially wanting to be involved in the new event, and, therefore, has invited investment proposals for the commercialisation of the inaugural event.”

It said the process would explore various commercial and investment models for the competition. Interested companies are invited to submit their proposals by Thursday, December 19, at 15:00 Central European Time.

Fifa said the invitation is open to organisations that “have the necessary financial and operational capacity together with experience in managing a football property of this magnitude”.

The competition is to have a “strong and unique name and brand”. Fifa said it will reach hundreds of millions of fans around the world, and that revenues “will be redistributed across the entire football community supporting the development of football globally”.

Fifa announced the launch of the new Club World Cup in October. It is expanding from seven to 24 teams, and the inaugural edition is to take place in China.

Last week, it was reported that Real Madrid president Florention Perez wants to launch a rival world club competition, and has also been in talks with CVC Capital Partners about getting investment. Perez recently stepped up his bid for a leadership role in international club football by becoming president of the newly-formed World Football Club Association.