Joshua Kushner, who is President Donald Trump’s son-in-law, is expected to lead the investor group
FIFA has unveiled plans to create a new subsidiary worth $20 billion to manage the World Cup and other major tournaments, while selling up to 20% of the business to outside investors.
The organization expects to raise as much as $4.2 billion but says it will keep full control over football governance, competitions and regulations.
The proposed company, FIFA Forward Enterprise (FFE), will oversee commercial and event operations. A group led by Thrive Eternal, an investment vehicle founded by Joshua Kushner, the brother of Jared Kushner, who is President Donald Trump’s son-in-law, is expected to lead the investor group.
FIFA President Gianni Infantino said the funds would support infrastructure, coaching, grassroots football, national teams and the women’s game.
The proposal has drawn sharp criticism from European soccer’s governing body UEFA, which accused FIFA of putting the sport’s “soul” up for sale.
UEFA argued that football should never become a commercial asset for investors and questioned the lack of transparency surrounding the plan.
FIFA said member associations and the FIFA Council will review the proposal before making a final decision.