NEW YORK — FIFA‘s intended investment partner Josh Kushner has said he regrets getting involved in Gianni Infantino‘s failed World Cup sell-off plan that provoked a huge rift in global soccer and has pulled him into legal action.
In his first comments about the ongoing crisis for FIFA, Kushner acknowledged that “we failed 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 Monday to Axios.
Kushner and his investment firm Thrive Capital were targeted last week by European soccer body UEFA by a court filing in Manhattan seeking evidence for a potential criminal complaint against Infantino in Switzerland for financial mismanagement. However, the UEFA filing states that “neither Thrive nor Kushner is an anticipated defendant” in a potential legal case.
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Under Infantino’s plan revealed in late July, Thrive and Kushner were to be the anchor investors intending to pay FIFA $4.2 billion for a 20% stake in a subsidiary that would run the soccer body’s commercial events, including the World Cup.
The project provoked a furious reaction from global soccer officials and a third deep rift with UEFA during Infantino’s 10-year presidency.
European soccer officials previously blocked Infantino’s divisive plans for a $25 billion project for new competitions with Japan’s SoftBank in 2018, and his failed push in 2021 to play the men’s World Cup every two years instead of four.
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“The idea behind [the project] was 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,” Kushner said in the statement to Axios.
“Thrive has a long track record of being a partner to all constituents,” said the New York-based investor, who is now part of a $12.5 billion takeover of the Los Angeles Lakers.
