Kushner: Football Power Struggles Doomed FIFA's World Cup Plan
Al Jazeera
Joshua Kushner has broken his silence on FIFA's failed plan to sell stakes in its tournaments, attributing the collapse to political infighting in global football. The investor conceded his firm underestimated the backlash, despite backing the initiative's goals.
American businessman Joshua Kushner has spoken publicly for the first time about the controversy surrounding FIFA's plan to sell stakes in its tournaments, blaming power struggles in global football for the collapse of the initiative. He admitted his company 'would not have gotten involved' had it foreseen the fierce reaction from the football community.
Speaking on Monday, venture investor Kushner — brother of Jared Kushner, son-in-law of President Donald Trump — said his firm Thrive Capital had worked for months on the deal and would have led the investment process. However, plans for FIFA Forward Enterprise (FFE), a proposed commercial subsidiary, were scrapped as UEFA prepared to pursue criminal charges against FIFA President Gianni Infantino.
'While we stand behind the motives behind FFE, we did not anticipate the political moves of global football and the lengths some people are willing to go,' Kushner said. 'Had we known how this would unfold, we would not have participated.'
FFE was a plan to bring private investment into FIFA events, including the World Cup, by selling stakes in a $20 billion commercial subsidiary. FIFA said the proposal would raise $4.2 billion to support poorer football nations, and member associations could vote to reject it.
Critics, however, argued the plan was secretly devised to benefit investors, with UEFA President Aleksander Ceferin calling it 'a backroom deal.' UEFA called for Infantino's removal, accusing the FIFA chief of 'criminal management' and gathering evidence for a potential criminal complaint in Switzerland, where both UEFA and FIFA are based.
US media reported Kushner could face a subpoena as UEFA asked a New York judge to allow it to seek documents and depositions from Kushner and his firm. Kushner and Thrive are not expected to be defendants in UEFA's lawsuit and have not been accused of wrongdoing.
'Money in football has historically been concentrated among a small group of countries,' Kushner said. 'The idea behind FFE was to allocate more capital and distribute it more equitably across all 211 member associations, providing greater investment to developing nations to nurture local talent, support grassroots football, enhance fan experiences, and ultimately grow the global game everywhere. It was an idea that every member association would vote on, not an obligation or an imposed decision.'
He added: 'Thrive has a long track record of being a partner to all parties.' Kushner was also a lead investor in the $12.5 billion acquisition of the Los Angeles Lakers basketball team, one of the most successful franchises in NBA history.
