US President Donald Trump has denied holding any discussions with FIFA president Gianni Infantino about a controversial plan to offer private investors a stake in a new company overseeing the World Cup and other FIFA competitions.
Asked directly by a journalist at Camp David whether he had spoken to Infantino about selling part of the ownership of the world’s most prominent football tournament, Trump replied: “No.”
He gave no further explanation or details about the matter.
FIFA outlines $20bn project
FIFA announced last Tuesday that it was pursuing an ambitious plan to establish a new subsidiary with an estimated value of about $20bn (£15bn).
The proposed company would be responsible for managing and organising the World Cup, as well as other competitions run by world football’s governing body.
Under the plan, FIFA intends to make up to 20% of the new company available to external investors. The move would represent an unprecedented attempt to attract substantial private capital into the football industry.
The proposal has prompted interest because of the scale of the planned investment and the possibility that outside financiers could acquire a share in an organisation connected to FIFA’s major competitions.
Close relationship between Trump and Infantino
Trump and Infantino have developed a close relationship, particularly after the United States hosted the World Cup during the current summer.
The US had also hosted the Club World Cup the previous summer, further strengthening the links between the American administration and FIFA.
That relationship led to questions about whether the United States, or people connected to Trump, had any involvement in the proposed investment structure.
Trump’s brief denial came in response to those questions, but he did not comment on the wider plan or explain whether anyone else connected to his administration had been involved in discussions.
Kushner-linked investment group among potential bidders
FIFA has revealed that an investment company founded by Joshua Kushner is expected to lead a group of potential investors interested in taking part in the deal.
Joshua Kushner is the younger brother of Jared Kushner, who is Trump’s son-in-law.
The possible involvement of a company established by a member of the Kushner family has raised significant questions about the deal’s proximity to the US administration.
Those questions remain despite Trump’s clear statement that he had not held direct talks with Infantino about the proposed transaction.
FIFA’s plan would allow external investors to acquire a minority stake of up to 20% in the new subsidiary, while the company would oversee the World Cup and the other tournaments under FIFA’s control. The governing body has valued the proposed venture at approximately $20bn, making it one of the most significant investment projects linked to international football.
