Controversial proposal involving Joshua Kushner's company sparked a global football backlash
FIFA has abandoned its controversial plan to bring private investors into the commercial management of the FIFA World Cup and other competitions following widespread opposition from football confederations, İdman.Biz reports.
FIFA president Gianni Infantino confirmed that the proposal would not go ahead after it triggered fierce criticism, threats of a boycott from European football associations and internal disagreements within the governing body.
"Having listened carefully to all opinions, I realized that this project has created divisions which, regardless of the level of support, no longer serve the original purpose. Our goal has always been, and always will be, to unite and improve football. Therefore, this proposal will not be implemented," Infantino said.
The project envisaged the creation of a new subsidiary, FIFA Forward Enterprise, which would have combined the commercial rights and operational activities related to the FIFA World Cup and other FIFA competitions. The new entity was expected to manage broadcasting rights, sponsorship agreements, ticketing operations and licensing.
The company was valued at around $20 billion, with FIFA planning to raise up to $4.2 billion by selling a non-controlling stake of up to 20 percent while retaining full authority over competitions, the international calendar and all sporting decisions.
The investor group was expected to be led by the American holding company Thrive Eternal, founded by Joshua Kushner, the younger brother of Jared Kushner, the husband of U.S. President Donald Trump's daughter Ivanka Trump. JPMorgan also participated in developing the proposal.
FIFA argued that the investment would accelerate global football development. Under the plan, each of its 211 member associations would have been eligible to receive up to $20 million in one-time funding, while FIFA Forward payments for the 2027-2030 cycle were also set to increase.
The proposal, however, was unanimously rejected by UEFA's 55 member associations, which warned that their national teams would boycott FIFA competitions unless the plan was completely withdrawn and binding guarantees were provided that FIFA tournaments and governance would never be transferred into private ownership.
Represented by the Association of Football Federations of Azerbaijan (AFFA), Azerbaijan was among the 55 UEFA members that supported the decision. As a result, the Azerbaijan national team was prepared to join the rest of Europe in boycotting FIFA competitions had the governing body proceeded with the project.
UEFA stressed that the FIFA World Cup should never be treated as an investment product and insisted that the future of football must not be driven by shareholder profit. The proposal was later opposed by both CONCACAF and the Asian Football Confederation.
The controversy also exposed divisions within FIFA itself. Senior adviser Carlos Cordeiro resigned, describing the proposal as harmful to football, while chief operating officer Kevin Lamour said FIFA staff had not been properly informed about the initiative.
According to the New York Post, potential investors also lost interest following the international backlash and boycott threat. A source familiar with the matter said they "didn't want to stay involved in this mess."
As a result, FIFA formally abandoned the project just days after unveiling it.
