Former President Donald Trump has denied any knowledge of a plan by FIFA President Gianni Infantino to sell off a stake in the World Cup to private investors. When asked on Friday if Infantino had discussed the proposal with him, Trump responded, "Who?" and later stated, "No, I didn't speak to him."
Infantino had reportedly devised a $20 billion commercial subsidiary plan, with Joshua Kushner, brother of Trump's son-in-law Jared Kushner, backing the venture. Investment bank J.P. Morgan was advising on potential investors.
Backlash and Resignations
The proposal faced significant opposition from various football confederations. The AFC, Asia's governing body, was the final confederation to reject the plan, bringing the total opposition to 135 FIFA members, representing 64% of the organization. This widespread resistance made it clear Infantino lacked the necessary support to proceed.
Adding to the pressure, Carlos Cordeiro, a senior advisor to Infantino and the World Cup's White House advisor, announced his resignation from FIFA, becoming an internal dissenter. Later, FIFA's chief operating officer Kevin Lamour also criticized the plans, reportedly calling them the brainchild of "one person" and urging nations to remove Infantino from his position.
UEFA accused FIFA of attempting to bribe members with a $40 million incentive to approve the plan, setting a response deadline of September 19.
Political Scrutiny
Senator Ron Wyden, who leads an investigation into Jared Kushner, commented on the situation. "Soccer fans around the world are rightfully outraged by this scheme from Infantino and Joshua Kushner to turn the World Cup into just another commodity for private equity to buy up," Wyden stated. He further characterized the plan as one of "dozens of shady deals by Trump's family and close associates to get rich from the presidency."
Despite FIFA's claims of a planned consultation period, questions were raised about the process, particularly with potential investors already identified.
Following the backlash and internal dissent, Infantino abandoned his proposals to inject private equity into FIFA tournaments. The opposition from UEFA, CONCACAF, and the AFC, along with internal opposition, contributed to his "humiliating backtrack."