North America’s soccer governing body, CONCACAF, has opposed FIFA President Gianni Infantino’s proposal to sell stakes in the World Cup to private equity investors. This decision follows UEFA’s decision to boycott the World Cup over the plan. During a meeting, CONCACAF expressed concerns about the lack of transparency and due process surrounding the proposal.
Infantino’s plan involves creating a $20 billion subsidiary called FIFA Forward Enterprise, which would offer 20% ownership to private investors, primarily from Thrive Capital, a New York investment firm co-founded by Joshua Kushner, brother of Jared Kushner.
Additionally, the Asian Football Confederation has voiced its unease about the proposal, emphasizing that support from all confederations is necessary for success. Infantino has offered increased funding to FIFA members, provided they approve the plan by mid-September.
A spokesperson from Thrive Capital has clarified that Joshua Kushner is not involved in political matters related to the administration and highlighted his successful business track record. As FIFA prepares for upcoming tournaments, the controversy surrounding Infantino’s plan continues to unfold.
