Exclusive | Thrive Capitals Josh Kushner hits out at political dynamics of scrapped $20B FIFA deal
Thrive Capital CEO Josh Kushner broke his silence about FIFA’s doomed $20 billion plan to sell off a stake in the World Cup to outside investors – stating that his firm “failed to appreciate the political dynamics of global football” while working on the deal.The proposed transaction, known as FIFA Forward Enterprise, aimed to raise up to $4.2 billion from Thrive and other outside investors, as The Post reported.The negotiations trigged an immediate 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.”The statement from Kushner, obtained exclusively by The Post, came just days after UEFA took the European soap opera to US federal court, asking a Manhattan judge for permission to subpoena Thrive about its dealings with FIFA boss Gianni Infantino.UEFA is seeking documents from Thrive and wants Kushner to sit for depositions as it plots a criminal case against Infantino in Switzerland, where UEFA and FIFA are headquartered.
A Thrive Capital spokesperson confirmed that the firm was aware of the request.A UEFA lawyer said Kushner and Thrive are not expected to be named as defendants in the potential case against Infantino.Kushner and Thrive 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 were advanced, the proposal would have required majority approval from FIFA’s member associations before it could have taken effect.
The deal was scuttled before a vote took place.“Money in footbal...