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Agence France-Presse

Reuters

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.

Infantino withdrew the proposal in late July in the face of a fierce backlash from Uefa and other stakeholders in the game.
Critics said the plan had been hatched in secret to profit its investors, with Uefa president Aleksander Ceferin dubbing the proposal a “shady, opaque back room deal”.
Uefa has called for Infantino’s removal, and accused the Fifa president of “criminal mismanagement”.
According to legal documents seen by AFP, Uefa is gathering evidence for a potential criminal complaint in Switzerland, where both Uefa and Fifa are based.
US media has reported Kushner is being targeted for subpoenas, with Uefa asking a New York judge for permission to demand Kushner and his firm hand over documents and sit for depositions related to the saga.
Kushner and Thrive are not expected to be defendants in the Uefa case and have not been accused of wrongdoing.
“Money in football has historically been concentrated amongst a small group of countries,” said Kushner’s statement.
“The idea behind FFE was to direct more capital and equity equally amongst all 211 member countries, providing significantly more investment to underdeveloped nations to nurture local talent, support grass roots football, enhance the fan experience and ultimately grow the global game everywhere.
“It was an idea that every member association would vote on, not an obligation or determination.”
He added: “Thrive has a long track record of being a partner to all constituents.”
Kushner is also a key investor in the ongoing, record US$12.5 billion purchase of the Los Angeles Lakers, one of the most successful teams in NBA history.


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Key investor Kushner blames football power struggle for World Cup plan collapse

Joshua Kushner’s first comments on the issue comes as European governing body Uefa prepares a criminal case against Fifa president Gianni Infantino. Photo: TNS

Uefa president Aleksander Ceferin (left) has called the proposal by Fifa head Gianni Infantino (right) a “shady, opaque back room deal”. Photo: AFP

Uefa targets Fifa’s Infantino with criminal complaint over failed World Cup investor plan

Fifa president Gianni Infantino arrives at a hotel in Hanoi, Vietnam, on Wednesday. Photo: Reuters

Thrive Capital Management founder Joshua Kushner. Photo: Getty Images/TNS

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Hong Kong’s Yue Tsz-nam and India’s Anwar Ali clash during the an AFC Asian Cup qualifier at Kai Tak Stadium. Photo: Elson Li

India great Sunil Chhetri said he would be a jealous spectator when the national team played Brazil. Photo: AFP

Sport

Football

Venture capitalist says his company would not have ⁠become involved in Fifa boss Infantino’s proposal had it known how it would play out


Venture capitalist says his company would not have ⁠become involved in Fifa boss Infantino’s proposal had it known how it would play out.


Fifa World Cup

Uefa

Fifa World Cup 2026

Key investor Kushner blames football power struggle for World Cup plan collapse

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Venture capitalist says his company would not have ⁠become involved in Fifa boss Infantino’s proposal had it known how it would play out

Venture capitalist says his company would not have ⁠become involved in Fifa boss Infantino’s proposal had it known how it would play out