UEFA, European football's governing body, has threatened legal action against FIFA and Joshua Kushner, an investor, concerning a proposed $20 billion plan for FIFA to sell a minority stake in a new entity running its tournaments. UEFA's letters to FIFA President Gianni Infantino and Kushner's investment fund, Thrive Eternal, indicate they are "actively considering legal action, arbitration, and/or regulatory complaints." They have also demanded the preservation of all related documents, warning against destruction or alteration which could lead to spoliation of evidence claims. The plan aimed to raise $4.2 billion from investors, with an initial equity valuation of $20 billion for the new entity, Fifa Forward Enterprise (FFE).
The proposal, which involved investors like Kushner's Thrive Eternal and was reportedly backed by J.P. Morgan, was met with strong opposition from UEFA and other football stakeholders. UEFA publicly condemned the plan, stating that the "soul and governance of football are not assets to trade" and that the move lacked transparency. They emphasized that the World Cup "belongs to football" and is not for sale, with some European countries even threatening to boycott FIFA competitions if the proposals remained active.
FIFA President Gianni Infantino's plan sought to create a company to run the World Cup, selling a 20% stake to a group led by Joshua Kushner, whose brother Jared Kushner is linked to former US President Trump. FIFA argued this was an efficient way to raise capital for its 211 member associations, promising up to $68 million in extra funding over four years. However, many in the soccer world, including FIFA's own ruling council and confederations, were reportedly blindsided by the announcement and raised concerns about a lack of due process. Key FIFA figures were reportedly given an ultimatum to sign off on the plan before the World Cup final.
