Venture capitalist who was to lead a $4.2bn investment for a 20% stake in FIFA's World Cup commercial subsidiary under the now-shelved FIFA Forward Enterprise scheme.
… UEFA has also asked a court in New York to approve a legal document ordering testimony and documents from venture capitalist Joshua Kushner, the brother of US President Donald Trump’s son-in-law, who was set to be the lead investor in FFE, and his company Thrive Eternal. …
Venture capitalist Joshua Kushner, who was set to be the lead investor in FIFA president Gianni Infantino’s scrapped plan to sell off stakes in the World Cup, says he now regrets joining the proposal. …
… Not simply because of the optics of such a move, but also that it was kept secret from other senior members of the Fifa hierarchy and that the beneficiary of the deal would have been Joshua Kushner – the brother of Jared Kushner, Trump’s son-in-law. …
… Many associations, including the Football Association, are furious at only learning of the proposal to sell a 20% stake in Fifa competitions to private finance, led by the Thrive Eternal investment vehicle owned by Joshua Kushner, the brother-in-law of US President Donald Trump’s …
FIFA has accused UEFA of a "smear campaign" in response to UEFA's legal challenge over President Gianni Infantino's scrapped plan to sell stakes in the World Cup to private investors. UEFA had accused Infantino of "criminal mismanagement" and promoting a fraudulently off-market price for personal benefit in relation to the now-shelved FIFA Forward Enterprise scheme.
FIFA has accused UEFA of a "smear campaign" in response to UEFA's legal challenge over President Gianni Infantino's scrapped plan to sell stakes in the World Cup to private investors. UEFA had accused Infantino of "criminal mismanagement" and promoting a fraudulently off-market price for personal benefit in relation to the now-shelved FIFA Forward Enterprise scheme.
Venture capitalist Joshua Kushner, who was to lead a $4.2bn investment for a 20% stake in a new FIFA commercial subsidiary under the now-shelved FIFA Forward Enterprise scheme, says he regrets joining the proposal, stating he had "failed to appreciate the political dynamics of global football." The plan was abandoned in July following major backlash.
US President Donald Trump said it would be a "terrible mistake" to remove Fifa president Gianni Infantino, whose position has come under pressure following accusations from Uefa, Concacaf and the AFC that he broke trust through deception with a failed Fifa Forward Enterprise proposal.
US President Donald Trump says it would be a "terrible mistake" to remove FIFA president Gianni Infantino, whose position has come under pressure following UEFA, Concacaf, and the Asian Football Confederation's open letter accusing him of breaking trust through his aborted FIFA Forward Enterprise proposal to sell 21% of commercial and ticketing rights to a private investment company.
FIFA president Gianni Infantino apologised for "errors" in controversial proposals to sell stakes in competitions to private investors, but retained his position after receiving backing from FIFA's management board at a meeting in Morocco. UEFA and others had criticised the Fifa Forward Enterprise proposal as opaque, but Infantino and secretary general Mattias Grafstrom sent a letter to FIFA members sincerely apologising and committing that such errors "will not happen again."
The English Football Association is set to withdraw support from Fifa president Gianni Infantino following fallout from his scrapped plans to sell stakes in Fifa competitions to private investors. The move comes as Uefa threatens legal action and Wales withdraws backing for Infantino's bid to remain Fifa president.
FIFA president Gianni Infantino's senior adviser Carlos Cordeiro resigned after the Asian Football Confederation joined European and North/Central American bodies in opposing a plan to sell stakes in competitions to private investors. Cordeiro called the proposal "a bad deal for football" that would "mortgage football's future," and the AFC warned the plan lacks the broad consensus needed and risks undermining the unity of the FIFA World Cup.
FIFA plans to secure up to $4.2bn in private investment by October for a new World Cup spinoff subsidiary (FIFA Forward Enterprise), even as President Infantino claims a consultation process has only just begun. The move has drawn criticism from UEFA and others, who say the rushed process lacks consultation with football associations and crosses a line by partly selling off the governing body's revenue-generating operations.
UEFA will meet Thursday to discuss its response to FIFA's controversial proposal to sell a 20% stake in FIFA competitions to private investors, after FIFA set a 19 September deadline for member associations to accept the deal or forfeit the first $20m of a $40m initial payout.
Fifa plans to invite third-party investment in a subsidiary called Fifa Forward Enterprise to expand football development funding to more than $10bn, a proposal criticised by Uefa and UK Prime Minister Andy Burnham. The plan requires approval from Fifa's 211 member nations and would see American venture capital firm Thrive Eternal lead the investor group.