FIFA plans to sell a $4.2 billion stake in a new $20 billion company that would manage the World Cup's commercial rights. The proposal, involving investors linked to the Kushner family, aims to boost funding for member nations but has drawn fierce opposition from UEFA and other soccer bodies, who accuse FIFA President Gianni Infantino of attempting to "sell the soul of football" amid a lack of transparency.
FIFA commercial rights sale proposal
- ▪FIFA intends to sell a minority, non-controlling stake of up to 20% in the new entity to private investors, aiming to raise up to $4.2 billion
- ▪Each member association is also offered an optional one-off payment of $20 million for infrastructure and development
- ▪The plan proposes increasing annual funding for each of FIFA's 211 member associations from a budgeted $8 million to $20 million
- ▪FIFA plans to create a subsidiary, FIFA Forward Enterprise (FFE), to manage the commercial rights for its tournaments, including the World Cup
- ▪The new commercial venture, FIFA Forward Enterprise, is valued at approximately $20 billion
Trump-Kushner investment ties
- ▪Joshua Kushner is the brother of Jared Kushner, who is the son-in-law of U.S. President Donald Trump
- ▪Thrive Capital, an investment firm founded by Joshua Kushner, is the proposed lead investor for the new venture
- ▪FIFA is working with the U.S. bank JP Morgan, which previously tried to finance the European Super League, to establish the new entity
Soccer confederation opposition
- ▪UEFA issued a statement accusing FIFA of attempting to "sell the soul of football."
- ▪CONCACAF and the Asian Football Confederation expressed concern about a "lack of due process" and not being consulted on the plan
- ▪England's Football Association stated it was "deeply concerned about the lack of process and governance" behind the proposal
- ▪Critics fear private investors could pressure FIFA to hold the World Cup more frequently or exclusively in the most lucrative markets
Infantino-Trump relationship scrutiny
- ▪Former FIFA president Sepp Blatter said the relationship between Gianni Infantino and Donald Trump has reached a "deeply damaging" financial dimension
- ▪Gianni Infantino has also been criticized for opening a FIFA office in Trump Tower and awarding President Trump a FIFA Peace Prize
- ▪In 2018, a previous attempt by Infantino to secure a $25 billion investment from SoftBank failed due to strong opposition from European football bodies
- ▪UEFA previously claimed FIFA undermined the World Cup's integrity when it overturned a red card for a U.S. player after President Trump called Infantino
Congressional corruption allegations
- ▪The House Judiciary Democrats called the proposal a "kickback hat trick" and labeled FIFA "Donald Trump’s favorite corrupt racketeering enterprise."
- ▪The group of U.S. lawmakers has called on Gianni Infantino to be interviewed about alleged corruption and "deceptive" World Cup ticket practices
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