Kushner states regret over World Cup sell-off plan
Summary
Joshua Kushner, a venture capitalist, expressed regret for supporting FIFA President Gianni Infantino’s plan to sell stakes in the World Cup, which has since been canceled. Kushner said he did not fully understand the politics involved in global football, although he supported the goal of investing more money in all member countries.Key Facts
- Joshua Kushner was set to lead an investment group in FIFA’s Fifa Forward Enterprise (FFE) plan to sell 20% of a new FIFA commercial subsidiary.
- The FFE plan proposed raising $4.2 billion to distribute more funds equally among FIFA’s 211 member countries.
- FIFA scrapped the FFE plan in July following strong opposition and controversy.
- Kushner said the plan aimed to help smaller and less developed football nations by increasing funding for grassroots football and talent development.
- UEFA, Europe’s football governing body, opposes FIFA President Infantino and has asked a New York court for documents and testimony related to the plan.
- UEFA alleges the World Cup’s value was deliberately set too low, and that Infantino did not consult FIFA’s leadership before pushing the plan.
- Kushner’s company, Thrive Eternal, is involved, and Kushner has also agreed to buy the NBA’s Los Angeles Lakers for a record $12.5 billion.
- Kushner said he regrets involvement because he underestimated football’s political challenges but still supports the idea of spreading investment more fairly.
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