Read Josh Kushner’s Comments In Full
“Money in football has historically been concentrated amongst a small group of countries. The idea behind FFE was to direct more capital and equity equally amongst all 211 member countries, providing significantly more investment to underdeveloped nations to nurture local talent, support grassroots football, enhance the fan experience, and ultimately grow the global game everywhere. It was an idea that every Member Association would vote on, not an obligation or determination. While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football, and the lengths some would go to. Thrive has a long track record of being a partner to all constituents. Had we known what this would devolve into, we would not have gotten involved.”
Read more Trump’s Steep National Park Fees For Foreign Tourists Fail To Raise Expected Revenue
Contra
Infantino’s proposed plan would have sold a minority stake in a new company called FIFA Forward Enterprise, which would handle the “commercial and event operations” for major events like the World Cup. National federations backing the plan were then offered access to millions in possible additional funding through a development program. After FIFA faced criticism over the proposal, the organization clarified that the proposed deal was only a “starting point,” and it was open to further talks, including amending it. However, UEFA continued rejecting the deal outright after previously threatening a boycott of FIFA events days earlier, which it said would stay in place “so long as these proposals remain alive.” Infantino eventually abandoned the plan after opposition from CONCACAF, the confederation for North America, Central America and the Caribbean, and the Asian Football Confederation, although neither went as far as threatening a boycott. The CAF, the African confederation, did not immediately reject the proposal and promised instead to “review and evaluate” the deal. Cameroonian federation president Samuel Eto’o told CNN last week he still supported Infantino and praised him for allowing smaller countries to get “seats at the table.” He also praised the now-scuttled funding plan, noting it would have evened the playing field for countries like Cameroon. “I remain convinced that for us as Africans, this project was something that could have been incredible,” Eto’o told the network.
Forbes Valuation
Forbes estimates Kushner’s net worth at $16.7 billion as of Monday, a fortune primarily built through his venture capital firm Thrive. The company, which Kushner founded in 2009, was responsible for early investments in tech companies like Instagram and OpenAI. Kushner has recently expanded into sports as well—Thrive purchased a stake in the San Francisco Giants earlier this year, and Kushner bought a controlling stake in the Los Angeles Lakers alongside former Disney CEO Bob Iger earlier this month. Kushner is the brother of Jared Kushner, the founder of Affinity Partners and husband of President Donald Trump’s daughter Ivanka Trump, and the son of real estate investor and U.S. ambassador to France Charles Kushner.
Key Background
Kushner’s comments come just days after UEFA began court proceedings in the U.S. in a process to try to subpoena more information about Infantino’s dealings with Thrive and others involved in setting up the deal. The confederation asked a U.S. court to issue subpoenas for communications last week, in anticipation of a possible criminal complaint against Infantino in Switzerland. Thrive has not been accused of any wrongdoing in the proceedings. A procedural court hearing is scheduled for Monday, when Thrive is expected to acknowledge receiving the subpoena, Axios reported. The company did not have any further comment on the legal proceedings. Infantino is up for reelection as FIFA president in 2027.
Read more El-Sayed Explains Why He Hasn’t Condemned Hasan Piker: ‘We Gotta Stop With The Cancel Culture’
Further Reading
ForbesUEFA Considers Criminal Complaint Against Gianni Infantino, U.S. Court Documents SayBy Zachary FolkForbesJosh Kushner’s Fortune Tripled This Year Thanks To Stakes In OpenAI, SpaceX And MoreBy Giacomo TogniniForbesHow U30 Billionaire Josh Kushner Tripled His Net Worth With Tech InvestmentsBy Alexandra York and Zoya Hasan