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Joshua Kushner regrets joining FIFA World Cup sell-off plan
Kushner had been poised to lead a $4.2bn investment for 20% of a proposed new FIFA commercial subsidiary before the plan was shelved in July.
Venture capitalist Joshua Kushner said he now regrets backing a FIFA plan led by president Gianni Infantino to sell stakes tied to the World Cup after a backlash derailed the proposal. In his first public comments since FIFA Forward Enterprise (FFE) sparked a major crisis, Kushner said that if he had known how the football world would react, he would not have gotten involved.
Kushner, who said he failed to appreciate what he called the political dynamics of global football, also defended the motivations behind FFE. He said the scheme was intended to direct more capital and equity equally among FIFA's 211 member associations, with more investment for underdeveloped nations to support grassroots football, local talent development, and the fan experience, and that the idea would have required member association votes.
The BBC reported that Kushner's firm, Thrive Eternal, had held talks with Infantino to lead a $4.2bn investment for 20% of a new FIFA commercial subsidiary. Days after the plan was revealed in July, FIFA abandoned it, and Uefa later asked a New York court to approve subpoenas for testimony and documents from Kushner and Thrive as it considers a criminal complaint against Infantino in Switzerland.