Under the proposal, FIFA would retain sole ownership and “exclusive authority” over football governance, competitions, the international match calendar and all regulatory and sporting decisions. It would invite external investors to buy minority, non-controlling stakes in the new entity, raising to $4.2 billion, with all net proceeds to be reinvested in the sport. “Football is the world’s most popular sport and an extraordinary engine of human and social development,” FIFA President Gianni Infantino said in a statement. Infantino defended the plan, saying every member association should have an opportunity to benefit from the sport’s commercial success. According to the source, Thrive Eternal, a new long-term investment strategy launched by venture capital firm Thrive Capital, is expected to be a lead investor.