Joshua Kushner, the venture capitalist who was lined up to lead investment in a now-abandoned scheme to sell stakes in the World Cup, has publicly expressed regret over his involvement in the controversial proposal.
Speaking for the first time since the plan triggered turmoil within football's governing body, Kushner acknowledged he underestimated how politically fraught the situation would become. "Had we known what this would devolve into, we would not have gotten involved," he said, adding that he and his firm "failed to appreciate the political dynamics of global football."
The scheme, known as FIFA Forward Enterprise (FFE), was championed by FIFA president Gianni Infantino and would have seen a $4.2 billion investment secure a 20% stake in a new FIFA commercial subsidiary. Kushner's firm, Thrive Eternal, had been in discussions to lead the investor group behind the plan before it was hastily withdrawn in July, just days after details became public and provoked widespread criticism.
Despite voicing regret, Kushner defended the underlying rationale of the proposal. "We stand behind the motivations of FFE," he said, explaining that the goal was to spread financial resources more evenly across FIFA's 211 member associations. He said the intention was to boost investment in less-developed footballing nations, helping them build local talent pipelines, support grassroots initiatives, and improve fan engagement worldwide.
Kushner further clarified that participation in the scheme would have been optional rather than compulsory, stating it was "an idea that every member association would vote on, not an obligation or determination." He emphasized that Thrive has a history of collaborating fairly with all parties involved in its ventures.
Before scrapping the initiative, FIFA had indicated that Thrive Eternal was expected to spearhead the investor consortium, projecting that funding to each national federation for the 2027–2030 cycle would rise significantly—from £5.9 million to £14.7 million—as a result of the deal.
The fallout from the scrapped plan has placed Infantino under mounting pressure, particularly from UEFA, which has emerged as the most vocal critic within the sport's power structure. The European governing body recently petitioned a New York court to approve subpoenas compelling both Kushner and Thrive to provide testimony and documentation, as it weighs filing a criminal complaint against Infantino in Switzerland.
According to UEFA, discussions between Kushner and Infantino over the FFE concept date back nearly a year before a formal agreement was signed, with financier Greg Maffei playing a key advisory role in shaping the deal. UEFA has also requested documents from two U.S.-based FIFA business entities as part of its investigation, though it maintains that neither Kushner nor Maffei are currently expected to face legal action themselves.
Central to UEFA's concerns is the valuation of the World Cup itself, which the FFE proposal pegged at approximately £15 billion. UEFA's legal team has challenged this figure, describing it as one that was "neither the product of an open, competitive auction, nor tested by any independent valuer." The governing body further alleges that Infantino bypassed proper consultation with FIFA's leadership before advancing the plan.
The controversy has intensified scrutiny on Infantino's leadership, with some within the football community calling for his resignation. Meanwhile, Kushner's business dealings continue to expand elsewhere, having recently finalized a record-breaking $12.5 billion deal to acquire the NBA's Los Angeles Lakers.
Based on reporting from BBC Sport Football.