FIFA president Gianni Infantino set a Sept. 19 deadline on Wednesday for the 211 member federations to accept a one-off $20 million offer to each underwritten by the investment firm of Jared Kushner‘s brother as part of a project to sell stakes in the World Cup.
The Times first reported the news of the letter to member federations.
The letter to member federations follows a backlash to the plans, with sources telling ESPN that UEFA is considering options, including a potential World Cup boycott, over what it described as a lack of consultation and governance.
Infantino writes in the letter that a $10 billion funding package would be available if the plan is approved, compared with $2.7 billion if it is rejected.
Infantino set out the “singular and unique funding opportunity” in a letter detailing why he wants to create a $20 billion FIFA subsidiary — 20% owned by private investors — that would run the football body’s competitions and events like World Cups and Club World Cups.
Read more:Lopes Cabral stunner for Cape Verde voted best World Cup goal
“It is my duty and responsibility as FIFA president to present such game-changing opportunities to you, our members,” Infantino wrote in the letter seen by The Associated Press.
“Should you wish to proceed this $10billion package will become available as of January 1, 2027, ushering in the next phase of our journey together.
“Should you wish to retain the status quo and reject this proposal we still have our planned expansion of the Forward programme [development money] of $2.7billion as previously presented.
“In total for the upcoming cycle starting as of January 1, 2027 each member association will have the possibility of access up to $40million per member association under this proposal.”
UEFA is expected to call its 55 member federations to an emergency online meeting, likely on Thursday.
Read more:LaLiga president Javier Tebas blasts FIFA, calls on Gianni Infantino to resign
The proposal revealed Tuesday is backed by Joshua Kushner’s investment firm Thrive Capital.
Joshua Kushner’s brother Jared Kushner is a son-in-law of U.S. President Donald Trump.
The Football Association and Concacaf have both said they are “deeply concerned” by FIFA’s plan to sell stakes in its major competitions.
FIFA’s announcement on Tuesday also produced a furious backlash from European football’s governing body UEFA, which insisted the World Cup is not an “asset to trade.”
“We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached,” the FA added in a statement on Wednesday.
“Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.
“When the proposal is shared in the full and transparent way now promised by FIFA, we will make our views clear, and comment further.”
Information from The Associated Press, PA and ESPN’s Mark Ogden was used in this report.
