Kushner Regrets Role in Scrapped FIFA World Cup Sell-Off Plan

Venture capitalist Joshua Kushner, who was set to lead an investment in FIFA's abandoned plan to sell stakes in the World Cup, has said he regrets getting involved, calling it a failure to appreciate the political dynamics of global football.

"Had we known what this would devolve into, we would not have gotten involved," Kushner said in comments made to Axios on Monday, his first public remarks on the controversy surrounding the proposed deal. He added that he had "failed to appreciate the political dynamics of global football."

Kushner, through his investment firm Thrive Capital, had been in talks with FIFA President Gianni Infantino to invest $4.2 billion for a 20% stake in a subsidiary that would run the soccer body's commercial events, including the World Cup. The proposal, which was revealed in late July, was scrapped days later amid a furious backlash from global soccer officials and a deepening rift with UEFA, European football's governing body.

UEFA has since taken legal action, last week asking a court in New York to approve subpoenas for testimony and documents from Kushner and Thrive as it considers lodging a criminal complaint against Infantino in Switzerland for financial mismanagement. The UEFA filing states that "neither Thrive nor Kushner is an anticipated defendant" in any potential legal case.

In his statement, Kushner defended the plan's motivations, saying it was designed 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." He added, "While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football."

The plan, which would have been a significant departure from FIFA's traditional financial structures, was met with immediate opposition. It was the latest in a series of clashes between Infantino and European soccer officials, who previously blocked his $25 billion project with Japan's SoftBank in 2018 and his 2021 push to hold the men's World Cup every two years.

Kushner, brother-in-law of former US President Donald Trump's son-in-law Jared Kushner, said the controversy has not changed his view of the sport's potential, noting, "Thrive has a long track record of being a partner to all constituents." The planned investment had been seen as a major coup for FIFA, but its collapse has left the organization's governance under renewed scrutiny.