Kushner's Regret Lingers: Reveals Role in World Cup Commercial Dealings
Recently, Josh Kushner publicly stated that he deeply regrets his involvement in the World Cup commercial sale plan promoted by Gianni Infantino. The plan once stirred intense opposition in global football circles and also dragged him into ongoing legal troubles. In rare comments on FIFA's current crisis, Kushner admitted: "We underestimated the complex political ecosystem behind world football." He also revealed that had he foreseen the situation evolving to its current state, he would never have easily waded into this troubled water.
Last week, European football's governing body submitted relevant documents to a Manhattan court, placing Kushner and his investment firm Thrive Capital under investigation, with the aim of gathering evidence to file criminal charges of financial misconduct against Infantino in Switzerland. However, the documents also specifically emphasized that in this potential lawsuit, neither Thrive nor Kushner are expected defendants.
According to the plan Infantino disclosed at the end of July, Thrive and Kushner, as lead investors, planned to pay FIFA $4.2 billion in exchange for a 20% stake in its subsidiary. This subsidiary would take over FIFA's commercial operations, including the World Cup project. However, once proposed, the plan encountered strong opposition from numerous football administrators worldwide, becoming the third major conflict between Infantino and various parties during his decade-long tenure as FIFA president.
Prior to this, European football officials had in 2018 blocked a $25 billion new tournament project that Infantino had pushed forward with Japan's SoftBank; in 2021, his proposal to hold the men's World Cup every two years was also rejected. In a statement to foreign media, Kushner explained that the plan was intended to give FIFA's 211 member associations a fairer opportunity in terms of capital and equity distribution, while bringing more funds to underdeveloped regions to cultivate local players, support grassroots football programs, improve fan matchday experience, and thereby promote the overall development of global football. He added that Thrive Capital has long maintained communication and cooperation with all stakeholders. Currently, this New York-based investor is participating in a $12.5 billion acquisition deal for the Los Angeles Lakers.