There’s a plan to sell off up to $20 billion in stakes to the World Cup, and the company behind it was founded by Josh Kushner. That’s Jared Kushner’s brother, which makes him related to Trump by marriage. The president says he’s had no part in it.
UEFA has unanimously rejected the plan and threatened to boycott all FIFA competitions, which would strip future World Cups of most of the world’s top national teams. CONCACAF and the Asian Football Confederation have also pushed back.
FIFA President Gianni Infantino wants to spin off the tournament’s commercial engine (broadcast rights, sponsorships, ticketing, hospitality, licensing) into a new subsidiary called FIFA Forward Enterprise, valued at roughly $20 billion by JPMorgan. FIFA would sell a minority stake of around 20% and raise up to $4.2 billion, while keeping majority control.
The expected lead investor is Thrive Eternal, a permanent-capital firm founded by venture capitalist Josh Kushner, brother of Jared Kushner. Thrive’s first sports bet earlier this year was a minority stake in the San Francisco Giants. JPMorgan and former Liberty Media executive Greg Maffei are advising.
Asked about it Friday at Camp David, Trump told reporters he hasn’t discussed the project with Infantino, according to Reuters. Infantino has spent the past year cultivating an unusually public relationship with the president, including a FIFA office in Trump Tower and the Club World Cup trophy on display in the Oval Office.
The proceeds would go to FIFA’s 211 member associations, including an optional one-off $20 million payment to each through a new “Fast-Forward” program. Infantino has given associations until September 19 to accept. He’s up for re-election in 2027, and the cash favors the smaller federations that have historically backed him.
Senior Infantino adviser Carlos Cordeiro, a former U.S. Soccer Federation head, has resigned over the plan, calling it a “bad deal for football.” Former FIFA president Sepp Blatter has also come out against it.
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