FIFA plan for Kushner-backed $20 billion operation to run World Cup meets fury from Europe’s UEFA
Summary
FIFA President Gianni Infantino announced a plan to create a $20 billion company called FIFA Forward Enterprise (FFE) to run the World Cup and other competitions with private investors, including the Kushner family. The plan faced strong opposition from UEFA, the European soccer organization, which said football should not be sold or controlled by private interests.Key Facts
- FIFA wants to form a company named FIFA Forward Enterprise to manage World Cup events.
- The company aims to raise up to $4.2 billion from private investors this year.
- The total value of the company is estimated at $20 billion.
- Investors would buy minority shares, meaning they would not control the company.
- Joshua Kushner’s investment group Thrive Eternal is involved; his brother Jared Kushner is President Donald Trump’s son-in-law.
- UEFA strongly opposes the plan, saying football is not something to be sold and warned of lack of transparency.
- FIFA members (211 national federations) must approve the plan and could receive up to $20 million each.
- FIFA is currently a non-profit organization based in Switzerland.
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