Venture capitalist Joshua Kushner says he regrets becoming involved in a proposal to sell a stake in a new FIFA commercial arm, after the plan triggered a major crisis for world football’s governing body.
Kushner, whose firm Thrive Eternal was expected to lead a $4.2bn (£3.1bn) investment for a 20% share in the subsidiary, said: “Had we known what this would devolve into, we would not have gotten involved”.
He also admitted he had “failed to appreciate the political dynamics of global football”.
The proposal, known as FIFA Forward Enterprise (FFE), was abandoned days after details emerged in July and prompted widespread criticism. Its stated aim was to increase investment in football across FIFA’s 211 member associations, particularly in less-developed nations.
However, Kushner defended the purpose of the scheme in his first public comments since the controversy began.
“We stand behind the motivations of FFE,” he said, adding that the intention “was to direct more capital and equity equally” among FIFA’s 211 member associations.
Thrive Eternal had held discussions with FIFA president Gianni Infantino about taking the lead in assembling the proposed investment. FIFA said shortly before the plan was withdrawn that the company was “expected to lead the proposed investor group for FFE”.
The governing body claimed the arrangement could have raised funding for each national association during the 2027-2030 cycle from £5.9m to £14.7m.
Kushner, the brother of US President Donald Trump’s son-in-law, said the proposal was designed to address what he described as a historic imbalance in football finance.
“Money in football has historically been concentrated amongst a small group of countries.
“The idea behind FFE was to direct more capital and equity equally amongst all 211 member countries, providing significantly more investment to underdeveloped nations to nurture local talent, support grassroots football, enhance the fan experience, and ultimately grow the global game everywhere.
“It was an idea that every member association would vote on, not an obligation or determination.
“While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football, and the lengths some would go to. Thrive has a long track record of partnering with all constituents. Had we known what this would devolve into, we would not have gotten involved.”
UEFA has led opposition to Infantino and is now seeking access to evidence connected to the abandoned plan. The European governing body has asked a New York court to approve subpoenas seeking testimony and documents from Kushner and Thrive Eternal.
UEFA is considering whether to lodge a criminal complaint against Infantino in Switzerland, while the FIFA president is facing calls to resign.
The legal action also seeks documents from two FIFA businesses operating in the United States and from American financier Greg Maffei, who was a key adviser on the proposed deal.
UEFA says neither Kushner nor Maffei is expected to be a defendant in any legal proceedings. However, its lawyers claim Kushner and Maffei first discussed the FFE concept in July 2025, and that Infantino had “been discussing the underlying concept with Kushner for nearly a year before the term sheet was ultimately signed.”
UEFA also alleges that the World Cup was deliberately undervalued at about £15bn. Its lawyers describe that figure as “a figure that was neither the product of an open, competitive auction, nor tested by any independent valuer”.
The organisation further claims Infantino did not consult FIFA’s governing hierarchy before pursuing the proposal.
Kushner has since agreed a deal to buy the Los Angeles Lakers for a record $12.5bn (£9.3bn).
