FIFA Under Fire Over Plan To Sell World Cup Stake To Joshua Kushner Investment Firm
FIFA is facing a backlash from football authorities and politicians over plans to sell stakes in the World Cup to private investors, with UEFA taking the unusual step of publicly condemning the scheme. The plan involves creating a new entity, FIFA Forward Enterprise (FFE), to hold the commercial rights to the men's and women's tournaments, raising concerns that FIFA is treating the World Cup as a saleable commodity rather than the custodian of a public institution. Critics, including UEFA, UK Prime Minister Andy Burnham and former FIFA president Sepp Blatter, argue the tournament is not FIFA's to sell and warn the move risks putting finances ahead of the game's best interests.
The proposed entity, developed with JP Morgan Chase, is reportedly valued at around $20 billion, with FIFA aiming to raise $4.2 billion by selling minority, non-controlling stakes to long-term investors while retaining control itself. Thrive Capital, the firm led by Joshua Kushner, brother of Jared Kushner, is said to have been approached about investing, though Thrive has not commented. FIFA president Gianni Infantino, who could personally profit by becoming the entity's commissioner after his expected third term ends in 2031, insists the plan would create a more focused commercial operation and redistribute over $10 billion to FIFA's 211 member associations. The controversy follows criticism of the recent World Cup in the US, Canada and Mexico over mandatory drinks breaks, Donald Trump's intervention in a player suspension, and an extended half-time show at the final, which prompted UEFA president Aleksander Čeferin to boycott the match.
- FIFA plans to sell World Cup commercial stakes via new entity FFE
- UEFA, Andy Burnham and Sepp Blatter condemn the $20bn plan
- Kushner-linked Thrive Capital reportedly approached as an investor