Joshua Kushner blames football power struggles for backlash against Fifa World Cup stake sale
Quick Look
Venture capitalist Joshua Kushner blamed internal power struggles in global football for the public outrage that collapsed Fifa's plan to sell stakes in the World Cup, stating his firm Thrive Capital would not have participated had it anticipated the backlash, as Uefa prepares a criminal case against Fifa president Gianni Infantino.
AI-generated summary
Why It Matters
Fifa's plan to sell stakes in a new US$20 billion commercial subsidiary (Fifa Forward Enterprise) aimed to raise US$4.2 billion for poorer football-playing nations, with member associations able to vote on the proposal.
Investor Joshua Kushner has blamed power struggles within global football for the outrage over Fifa’s plan to sell stakes in the World Cup, admitting his firm “would not have gotten involved” if it had anticipated the backlash.
The first comments by venture capitalist Kushner – the brother of Jared Kushner, son-in-law of US President Donald Trump – since the plan collapsed came on Monday, as European governing body Uefa prepares a criminal case against Fifa president Gianni Infantino.
“While we stand behind the motivations of FFE [Fifa Forward Enterprise], we failed to appreciate the political dynamics of global football, and the lengths some would go to,” Kushner said in a statement.
“Had we known what this would devolve into, we would not have gotten involved,” added Kushner, whose firm Thrive Capital worked on the deal in private for months, and would have spearheaded the investment process.
FFE was a plan to bring private investment into Fifa events, including the World Cup, by selling stakes in a new US$20 billion commercial subsidiary.
Fifa said the proposal would have raised US$4.2 billion to benefit poorer football-playing nations, and that member associations could have voted to reject it.
What to Watch
AI outlook — possibilities, not facts
Uefa will proceed with criminal proceedings against Fifa president Gianni Infantino
Likely · Within months
Fifa will abandon similar private investment plans for World Cup tournaments in the near term
Likely · Within months
Open Questions
- What specific legal grounds will Uefa use in its criminal case against Gianni Infantino?
- Will Fifa revive any form of private investment plan for future tournaments?
- How will this conflict affect relationships between Fifa and other continental confederations?
