Thrive Capitals Josh Kushner hits out at political dynamics of scrapped $20B FIFA deal | Latest Tech News
Thrive Capital CEO Josh Kushner broke his silence about FIFA’s doomed $20 billion plan to unload a stake in the World Cup to outdoors buyers – stating that his firm “failed to appreciate the political dynamics of global football” while working on the deal.
The proposed transaction, identified as FIFA Forward Enterprise, aimed to raise up to $4.2 billion from Thrive and other outdoors buyers, as The Post reported. The negotiations trigged an rapid and fierce public backlash, with UEFA members unanimously voting to boycott the World Cup in protest last month.
“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,” Kushner said. “Thrive has a long track record of being a partner to all constituents. Had we known what this would devolve into, we would not have gotten involved.”
Josh Kushner is CEO of Thrive Capital. Getty Images
The assertion from Kushner, obtained solely by The Post, got here just days after UEFA took the European cleaning soap opera to US federal court, asking a Manhattan decide for permission to subpoena Thrive about its dealings with FIFA boss Gianni Infantino.
UEFA is searching for paperwork from Thrive and needs Kushner to sit for depositions as it plots a legal case against Infantino in Switzerland, where UEFA and FIFA are headquartered. A Thrive Capital spokesperson confirmed that the firm was conscious of the request.
A UEFA lawyer said Kushner and Thrive usually are not anticipated to be named as defendants in the potential case against Infantino. Kushner and Thrive usually are not accused of wrongdoing.
Meanwhile, Kushner pushed back on the notion that the deal would have resulted in a takeover of FIFA, stating, “it was an idea that every Member Association would vote on, not an obligation or determination.”
While talks had been superior, the proposal would have required majority approval from FIFA’s member associations before it may have taken impact. The deal was scuttled before a vote came about.
UEFA said no Aug. 1 it has no confidence in FIFA President Gianni Infantino’s management. AFP via Getty Images
“Money in football has historically been concentrated amongst a small group of countries,” Kushner added. “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.”
Kushner, whose firm is thought for its major investments in tech companies like OpenAI and a current deal to buy majority control of the NBA’s Los Angeles Lakers, is the youthful brother of President Trump’s son-in-law and former senior White House adviser Jared Kushner. Unlike his brother, Josh Kushner has been described as a lifelong Democrat.
The nixed deal called for FIFA to switch its money-making belongings, including TV rights, sponsor offers, licensing, and ticketing, into a for-profit entity. Thrive would have anchored the deal, while JPMorgan Chase was advising.
Argentina defender Nicolás Tagliafico defends against Spain ahead Lamine Yamal as Argentina midfielder Alexis Mac Allister maintains control of the ball during the second half of the FIFA World Cup 2026 Final on Sunday, July 19, 2026, at NY/NJ Stadium in East Rutherford, NJ. Corey Sipkin for NY Post
In a prolonged court submitting last week, UEFA alleged that Infantino, had engaged in “criminal mismanagement” of FIFA “arising out of the secretive structuring, valuation, financing, and marketing of a transaction that inflicted direct and concrete injury on FIFA’s reputation, governance authority, and commercial relationships to the detriment of FIFA as well as its 211 members, including UEFA’s 55 member associations.”
Meanwhile, UEFA and other critics are engaged in an escalating effort to oust Infantino, who is up for re-election in March. The European soccer physique said on Aug. 1 that it had no confidence in his management.
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