Kushner-Backed Private Equity Plot Puts FIFA Presidency in Peril

A few weeks ago, Gianni Infantino seemed a lock to be re-elected for a fourth and final term as the president of FIFA. But his leadership is now under serious threat amid the global uproar of his proposal to sell stakes in FIFA competitions to a private equity program headed by Joshua Kushner.UK Prime Minister Andy Burnham said on Friday that Mr. Infantino, who has served as president for 11 years, was “the wrong man” to lead FIFA after the resignation of a senior advisor to the World Cup and a third soccer confederation rejected the proposed plan.“This was an outrageous suggestion,” Mr. Burnham told reporters. “The idea that it could even be brought forward shows that, in my view, (he) is the wrong man to lead the organization. Football does not belong to investors. It belongs to the people who fill the stands.”Mr. Infantino’s leadership has been under siege since he imposed a Sept. 19 deadline for FIFA’s 211 members to accept a one-off $20 million offer to each as part of a plan to sell stakes in the World Cup. The funding would be underwritten by the investment firm Thrive Capital, founded by Mr. Kushner, the brother of President Trump’s son-in-law, Jared Kushner.The proposal includes the creation of a subsidiary called FIFA Forward Enterprise that would control much of FIFA’s most lucrative enterprises including the World Cup.Carlos Cordeiro, Mr. Infantino’s senior adviser on global strategy and governance, resigned, saying the proposal was “a bad deal for football” and would “mortgage football’s future.” Several major soccer bodies agree.The Asian Football Confederation is standing “in solidarity” with UEFA and CONCACAF in denouncing the proposal. “Football should have never been placed in such a position,” the Asian soccer body said.While it did not criticize Mr. Infantino directly, the AFC called on FIFA to “undertake an urgent review of its governance and decision-making framework.”UEFA announced it will boycott all FIFA competitions, including World Cups, unless the proposal is rejected. The governing body of the European soccer league held an emergency meeting on Thursday in which all 55 member associations were unanimous in their opposition.“The World Cup cannot be treated as an investment product,” UEFA said in a statement. “It is one of football’s greatest sporting legacies. It has been built over generations by players, national teams and supporters across every continent. No part of it should ever be surrendered to private investors. The World Cup is not for sale.”UEFA’s boycott could become a reality in September when the U-20 Women’s World Cup is scheduled for Poland.Concacaf, the governing body of North American, Central American, and Caribbean soccer, also held an urgent meeting of its member associations and elected not to support the proposal, citing a rushed process.“The discussion reinforced the need for greater transparency and proper governance,” Concacaf said in a statement. “For these reasons, Concacaf and its 41 member associations have rejected the proposal.”The proposal needs a simple majority of FIFA’s 211 member associations to pass. But with UEFA’s 55 members, Concacaf’s 35 and Asia’s 46 members all voicing their opposition, the proposal has little chance of approval.Conmebol, the governing body in South America, has yet to comment on the proposals. The governing bodies in Africa (CAF) and Oceania (OFC) have said they’ll discuss FIFA’s plan in the coming weeks.Mr. Cordeiro’s resignation is a blow to Mr. Infantino’s leadership. He had served as a FIFA senior adviser for nearly five years and represented the governing body on the White House Taskforce for the 2026 World Cup. The former investment banker with Goldman Sachs, said he “unequivocally” opposed the plan and “did not accept the proposition” FIFA needed outside investors.“FIFA responsibility is not to maximize commercial returns at any cost,” he said “It is to protect and strengthen football for future generations.”He added the fundamental questions have been left unanswered. “Why this deal? Why now? What oversight exists? Who benefits?” he wrote. “This is not a responsible way to determine the future of the world’s game.”The furor over the private equity proposal has made Mr. Infantino’s path to re-election much rockier. FIFA has set a Nov. 18 deadline for potential candidates to declare in a presidential vote of the 211 members scheduled next March in Rabat, Morocco. The next term will run through 2031.Qatari sports executive Nasser al-Khelaifi has surfaced as a potential candidate, though he previously said he had no interest in the job. Mr. Al-Khelaifi is the president of Paris Saint-Germain in France, and is chairman of the beIN Media Group.Despite the apparent success of the 2026 World Cup, which enjoyed great attendance, major TV ratings and competitive games, Mr. Infantino has come under fire. Critics of his leadership point to his cozy relationship with President Trump, including awarding him the first ever FIFA Peace Prize without informing FIFA’s leadership council, and FIFA’s decision to overturn a controversial red card issued to United States star Folarin Balogun, following a call from Mr. Trump.Mr. Infantino clapped back at critics in a lengthy statement earlier this week, saying in part, “To those behind their pens and papers, behind their screens spreading hate and false rumors, I want to say that while you are sitting behind, we at FIFA are on the front line organizing, working hard, and delivering the best show in the world.”He added, “I’m incredibly proud, as FIFA President, to have contributed even a little, to this show.”

Kushner-Backed Private Equity Plot Puts FIFA Presidency in Peril

Kushner-Backed Private Equity Plot Puts FIFA Presidency in Peril

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