The abandoned proposal to sell stakes in the FIFA World Cup has led to regret from venture capitalist Joshua Kushner, who was poised to be the main investor in the controversial plan terminated by FIFA President Gianni Infantino. Kushner, speaking for the first time about the scrapped Fifa Forward Enterprise (FFE) initiative, acknowledged his oversight in understanding the political complexity within global football. “Had we known what this would devolve into, we would not have gotten involved,” he admitted.
Thrive Eternal’s Investment Plans
Kushner’s firm, Thrive Eternal, had engaged in discussions with Infantino about potentially leading a $4.2bn (£3.1bn) investment for a 20% stake in a new FIFA commercial arm. The initiative, however, was abandoned in July shortly after the details were exposed, facing intense criticism.
Uefa’s Legal Actions
Following the scheme’s collapse, Uefa has sought legal intervention by requesting a court in New York to approve subpoenas for testimonies and documents from Kushner and Thrive Eternal. This move is part of Uefa’s consideration to file a criminal complaint against Infantino in Switzerland. Uefa has been at the forefront of the opposition against Infantino, who is being urged to relinquish his position.
Intentions Behind FFE
Despite the criticisms, Kushner defended the intentions of the FFE, emphasizing that its goal was to distribute capital and equity more evenly among FIFA’s 211 member associations. “The idea was to enhance investment in underdeveloped countries, fostering local talent and grassroots football,” he explained, underscoring that it was meant to be a democratic vote, not an imposed directive.
Valuation and Consultations
Questions have been raised about the project’s processes, with Uefa alleging that the World Cup was undervalued at approximately £15bn without undergoing an open or independent evaluation. They also criticized Infantino for not consulting FIFA’s internal management over the controversial proposal.
Broader Implications
The situation is compounded by additional subpoenas for documents from two FIFA-affiliated businesses in the US and American financier Greg Maffei, who was instrumental in advising on the proposal. While neither Kushner nor Maffei are expected to face any legal charges, it has come to light that discussions around the FFE began as early as July 2025 and that Infantino had been deliberating with Kushner long before formal terms were agreed upon.
In a separate development, Kushner has recently struck a deal to acquire the Los Angeles Lakers basketball team for an unprecedented sum of $12.5bn (£9.3bn).
Reporting based on coverage first published by bbc.co.uk.