FIFA's plan to build a $20 billion commercial company around the World Cup has pulled the Kushner family into a political controversy, with Joshua Kushner's Thrive Eternal expected to lead a private investor group and UEFA warning that football's "soul and governance" are not for sale.
FIFA's $20 Billion World Cup Plan Has UEFA Fuming and the Kushners in the Spotlight
MarketDash
FIFA wants to sell minority stakes in a new commercial company valued at $20 billion, with Joshua Kushner's Thrive Eternal leading the investor group. UEFA is not happy.
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What's in FIFA's $20 Billion Proposal?
The proposal would create FIFA Forward Enterprise, or FFE, to manage commercial and event operations for the World Cup, Club World Cup and other competitions. FIFA wants to raise as much as $4.2 billion by selling minority, non-controlling stakes based on a $20 billion valuation.
Joshua Kushner founded Thrive Capital and launched Thrive Eternal as a long-term investment vehicle. His brother, Jared Kushner, is President Donald Trump's son-in-law and an administration envoy, but Reuters reported that Jared is not a prospective investor. Thrive Eternal has already expanded into professional sports through an investment in the San Francisco Giants.
FIFA President Gianni Infantino called the proposal "the democratization of football worldwide." FIFA said it would retain control over governance and sporting decisions, while its 211 member associations could voluntarily access up to $20 million each in one-time capital.
UEFA Attacks Deal Over Football Ownership
UEFA rejected that distinction in a social media statement. "It is not FIFA's to sell," the European body said. "None of us are the owners of football." It added, "The soul and governance of football are not assets to trade," without clarity over who would benefit financially.
The dispute carries a political dimension. Infantino's close relationship with Trump defined much of the recently completed 2026 World Cup. FIFA had previously opened an office at Trump Tower, while Trump publicly intervened in a disciplinary controversy involving the U.S. team. The tournament generated about $12 billion for FIFA, according to AP, strengthening Infantino's position before another expected reelection campaign.
Political Ties And Past Plans Resurface
The company also revives concerns surrounding Infantino's failed 2018 effort to pursue a secretive $25 billion deal with SoftBank for new global competitions. UEFA resisted that plan, which appeared to involve Saudi financing. Infantino later deepened FIFA's ties with Saudi Arabia, host of the 2034 World Cup.
Reuters reported that FIFA's council and a majority of its member associations must approve FFE. No timetable has been announced, leaving the proposal at the center of a fight over whether private capital can fund football's growth without influencing its biggest competitions.
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