Kushner blames football’s power struggle for World Cup plan collapse
Investor Joshua Kushner, brother of Donald Trump’s son-in-law, admits his firm would have stayed out if it had anticipated the backlash.
Thrive Capital's Joshua Kushner has blamed internal power struggles in global football for the collapse of a proposed World Cup stake sale plan. The venture capitalist, brother of President Donald Trump's son-in-law, admitted his firm would not have participated in the deal if it had foreseen the resulting backlash. The plan, known as Fifa Forward Enterprise (FFE), aimed to bring private investment into FIFA events by selling shares in a US$20 billion commercial subsidiary.
This would have raised US$4.2 billion for poorer football-playing nations, with member associations able to vote against it if they disagreed. However, critics accused the plan of being a secretive attempt to profit investors. Uefa president Aleksander Ceferin called the proposal "a shady, opaque backroom deal" and called for Infantino's removal, accusing him of "criminal mismanagement."
Uefa is investigating the matter and has reportedly sought to subpoena Kushner and Thrive Capital for documents and testimony.
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- Kushner blames football’s power struggle for World Cup plan collapse freemalaysiatoday.com
