Infantino sets deadline for FIFA offer in Kushner-backed World Cup plan
FIFAâs president lobbies for latest proposal for investment in footballâs governing body, which has met with criticism. FIFA President Gianni Infantino has set a September
FIFAâs president lobbies for latest proposal for investment in footballâs governing body, which has met with criticism. FIFA President Gianni Infantino has set a September 19 deadline for the 211 member federations to accept a one-off $20m offer to each underwritten by the investment firm of Jared Kushnerâs brother as part of a project to sell stakes in the World Cup. Infantino set out the âsingular and unique funding opportunityâ in a letter detailing why he wants to create a $20bn FIFA subsidiary that would be 20 percent owned by private investors and would run the football bodyâs competitions and events like World Cups and Club World Cups. âIt is my duty and responsibility as FIFA president to present such game-changing opportunities to you, our members,â Infantino wrote on Wednesday in the letter seen by The Associated Press news agency. The proposal, revealed on Tuesday and backed by Joshua Kushnerâs investment firm Thrive Capital, was met with immediate fury by Infantinoâs former colleagues at the European football body UEFA, which said the World Cup âis not FIFAâs to sellâ.
UEFA is expected to call its 55 member federations to an emergency online meeting, likely on Thursday. Joshua Kushnerâs brother, Jared Kushner, is a son-in-law of United States President Donald Trump. FIFAâs private equity plan is the latest ambitious project proposed during Infantinoâs 11-year presidency, during which he has increasingly seemed to be an executive leader acting without consulting footballâs major stakeholders. Previous plans include creating a FIFA Peace Prize and trying to reorganise footballâs calendar with World Cups every two years instead of four. Concerns about the previously secret plan were aired on Wednesday by the continental football bodies for Asia and the North American, Central American and Caribbean region, known as CONCACAF. âWe are deeply concerned by the lack of due process,â CONCACAF said in a statement. The Kuala Lumpur-based Asian Football Confederation said it was âdisappointed that a matter of such significance entered the public domain before the AFC family had been afforded the opportunity to examine and discuss it.â Continental bodies that organise their own international club and national team competitions â such as the Champions League, European Championship and Copa America â likely will see threats to those events from FIFA wanting to increase revenue and value for investors by playing World Cups and Club World Cups for men and women more often.
