RESOLVING THE LEDGER
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See the full story · 3 sourcesUefa has reacted furiously to reports that Fifa president Gianni Infantino is planning to sell stakes in the men’s World Cup to investors.
Infantino is plotting a scheme whereby Fifa would retain majority control of the World Cup and the rest would be sold, partly to each of Fifa’s 211 national associations, and partly to private investment, according to reports by The Times and Financial Times on Tuesday.
The plan could potentially see Infantino installed as the “commissioner” of the World Cup when his Fifa presidency finally ends in 2031, a position that would prove extremely lucrative.
Uefa, the governing body of European football and a long-term critic of Infantino, said in a statement: “This crosses a line that football’s governing institutions should never cross.
“UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game. The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially.
“None of us are the owners of football. It is not FIFA’s to sell.”
Gianni Infantino has defended Fifa’s handling of the World Cup (Bradley Collyer/PA) (PA Wire)
The investment would be led by Joshua Kushner, the brother of Jared Kushner, who is married to President Donald Trump’s daughter Ivanka, through his Thrive Eternal fund.
Thrive Eternal, a new investment strategy launched by venture capital firm Thrive Capital, is expected to be a lead investor in the entity, the source said. The strategy is a permanent capital vehicle focused on making a small number of long-term investments in franchises and cultural institutions.
Thrive Eternal took a minority stake in Major League Baseball’s San Francisco Giants this year. The vehicle was founded by Joshua Kushner, and former Walt Disney CEO Bob Iger serves as an adviser.
Fifa is working with bankers at JPMorgan to raise billions of dollars by bringing in external investors to take as much as a 20 per cent stake in the entity, a source said. The source added that former Liberty Media CEO Greg Maffei has been involved as a commercial adviser on the creation of the Fifa enterprise.
Fifa has not responded to comment.
Last week, Infantino praised Fifa for “delivering the best show in the world” and spoke of the World Cup bringing “joy and togetherness,” in a 900-word statement published across a 15-page post on his Instagram account and on the Fifa website.
“Sorry that you were so consumed by hate and criticism that you missed it all,” the Fifa leader wrote, addressing his comments to “those behind their pens and papers, behind their screens spreading hate and false rumours”.
Fifa and Infantino faced criticism during the World Cup for Iran team officials, a Somali referee and fans being denied entry to the United States; alleged political influence by Mr Trump in letting Folarin Balogun avoid a ban for a red card; unprecedented high ticket prices and commercialised breaks in play midway through each half of all 104 games.
“Every city was packed with fans from all around the globe,” Infantino wrote. “While they celebrated, you were busy planting seeds of hate.”
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