In a statement released Monday, venture‑capitalist Josh Kushner said Thrive Capital would not have become involved in FIFA President Gianni Infantino’s controversial plan to sell part of the commercial rights to the World Cup and other FIFA tournaments to private investors. Kushner, the brother of Jared Kushner, son‑in‑law of President Trump, said the firm did not fully appreciate the political dynamics of global football when it agreed to serve as the proposal’s anchor investor.
Background on the FIFA Forward Enterprise proposal
Infantino’s initiative, called FIFA Forward Enterprise (FFE), valued the commercial rights of the World Cup and other tournaments at roughly $20 billion. The plan was intended to channel more capital to the 211 national associations that make up FIFA, especially those with limited resources. By distributing equity and investment more evenly, Infantino argued the scheme would nurture local talent, support grassroots football, and improve the fan experience worldwide.
However, the proposal encountered fierce opposition from UEFA and other stakeholders. Critics argued that selling a portion of the World Cup’s commercial rights to private investors could jeopardize the sport’s integrity and concentrate wealth in the hands of a few powerful entities. In late July, Infantino withdrew the plan amid the backlash.
Kushner’s response
“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,” Kushner said. “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.”
Kushner also echoed Infantino’s sentiment that money in football has historically been concentrated among a small group of wealthy nations. He reiterated that the idea behind FFE was to provide significantly more investment to under‑developed member associations, helping them develop local talent and grow the sport in every corner of the world.
Legal developments
Amid the controversy, UEFA filed a request with a U.S. federal court seeking testimony and documents from FIFA entities in Florida for a planned criminal complaint in Switzerland against Infantino. The filing, seen by Reuters, asks for all communications between FIFA, Thrive Capital, and other investors regarding the FFE proposal.
Reuters has reached out to FIFA for comment on the legal filing and on the status of the withdrawn investment plan.
Implications for future sports investments
The episode highlights the challenges private capital faces when entering the governance‑heavy world of international sport. While investors see opportunities to fund growth and development, they must also navigate complex political landscapes and the sensitivities of governing bodies, fans, and national associations.
For Thrive Capital, the experience serves as a cautionary tale about conducting thorough political due diligence before committing to high‑profile, globally visible projects. As the firm continues to evaluate future opportunities, it is likely to apply the lessons learned from the FIFA episode to ensure alignment with both financial goals and the broader values of the sport.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
