Another Kushner's World Cup Deal in Trouble After FIFA Abandons Plan To Sell 20% Stake

Joshua Kushner's $4.2 billion bid for a permanent 20 per cent stake in the men's and women's World Cups has collapsed, prompting legal action in US courts and mounting political pressure on FIFA president Gianni Infantino.

Joshua Kushner, brother of Jared Kushner, was at the centre of a secret proposal known internally as 'FIFA Forward Enterprise'. Thrive Eternal, his investment vehicle under Thrive Capital, was positioned to invest $4.2 billion for a permanent stake in a new commercial rights company expected to be worth around $20 billion.

World Cup Deal Collapses After Global Backlash

The proposal was abandoned on 1 August after it became public and attracted strong criticism from regional football federations and officials.

UEFA has taken legal action in US federal courts involving Kushner, Thrive Capital Management, JP Morgan and FIFA's North American offices. Europe's football-governing body is seeking documents and communications about the proposed deal as it examines the transaction and Infantino's role in moving the deal forward.

The legal action spans federal courts in New York, Florida and Colorado. UEFA has filed discovery applications seeking internal communications, pitch decks and valuation models relating to FFE. Its requests also name commercial adviser Greg Maffei and JP Morgan.

UEFA Challenges $4.2 Billion Price Tag

Much of UEFA's case centres on the proposed $4.2 billion price tag. UEFA argues that the valuation was 'extremely undervalued' and 'fraudulently off-market'.

It also questions whether an independent valuation was properly conducted before Infantino moved forward with the proposal.

The documents obtained through the US proceedings are intended by UEFA to support a possible formal criminal complaint in Switzerland against Infantino under Article 158 of the Swiss Criminal Code, which concerns criminal mismanagement.

Pressure Mounts on Infantino's Leadership

Three of FIFA's six regional confederations, UEFA, CONCACAF and the AFC, have publicly called for Infantino to resign. National associations including England, Germany, Sweden, Serbia and Wales have withdrawn their support for his planned re-election bid in March.

Carlos Cordeiro, Infantino's senior commercial adviser, resigned during the fallout and described FFE as a 'bad deal' for the sport.

Mikaël Silvestre, the former Arsenal and France defender and a longstanding participant in FIFA's Legends programme, also criticised the proposal. Silvestre described it as the 'final straw', called for Infantino to 'stand aside' and argued that representatives of men's and women's players should have direct seats on FIFA's decision-making council.

Kushner Admits He Misread Football Power Game

Kushner eventually addressed the controversy after weeks of silence. Writing to US news outlet Axios, Kushner admitted that Thrive Capital had 'underestimated the political dynamics of global football'. He said the firm 'would not have gotten involved' if it had known how strongly the proposal would be received.

Kushner defended the stated purpose of FFE, saying it was intended to direct capital and equity equally to all 211 FIFA member countries, particularly to support talent development in less-resourced nations.

UEFA has disputed that rationale. In its filings, the organisation argues that FIFA already holds billions of dollars in reserves and questions why the governing body would need outside private equity.

The two sides also disagree over what the proposed structure would have meant for FIFA and its member associations. UEFA says it would have benefited Infantino and a small group around him, while the proposal's backers argued it would have channelled investment into football development.