The future of the FIFA World Cup is in limbo as controversy swirls around FIFA President Gianni Infantino’s proposal to raise up to $20 billion by selling equity stakes for the world's most prestigious soccer tournament. Amidst this turmoil, U.S. President Donald Trump clarified that he has not discussed the investment project with FIFA’s president.
When questioned by reporters on Friday at Camp David, President Trump stated that he has not engaged in discussions with FIFA President Infantino regarding the governing body’s proposal to offer stakes to external investors, according to Reuters.
The investment proposal, known as the FIFA Forward Enterprise, was officially submitted by Thrive Eternal, a permanent holding company founded by venture
capitalist Josh Kushner, the brother of Trump’s son-in-law Jared Kushner.
Under this plan, FIFA would sell a substantial share of the FFE to outside investors. The FFE proposal would oversee all commercial and event activities, such as broadcast rights, sponsorships, ticket sales, and licensing agreements for tournaments like the World Cup.
The proceeds from these sales would then be distributed among FIFA’s 211 member associations. However, this proposal has raised concerns about the potential loss of control over key aspects of the tournament and the influence of outside investors on the World Cup.
This article originally appeared on USA TODAY: Trump says no talks with Infantino on FIFA investment plan
