He liked it so much that now he wants all of it. Donald Trump liked hosting the FIFA World Cup so much that he’s now working on a deal to buy the Switzerland-based organization. When word of this surfaced in Europe, the 55 soccer teams there — under the control of an organization called UEFA — announced they would boycott the World Cup if FIFA sells out.
FIFA can’t sell its real self, but it is looking to sell a minority stake to run its commercial and marketing operations, including of course the staging of the World Cup. The group raising funds to buy this minority stake, which will be called the FIFA Forward Enterprise (FFE), is being led by Trump son-in-law Jared Kushner. Ya think Trump might have the idea of holding the World Cup forever more in the United States?
“Football is the world’s most popular sport and an extraordinary engine of human and social development,” FIFA President Gianni Infantino said in a statement. “Parts of the game have turned that popularity into remarkable commercial value — and we celebrate that success and want it to continue, because it lifts the whole game.”
The Euro World Cup participants don’t want any part of it. “The soul and governance of football are not assets to trade—especially with zero transparency as to who gains financially,” European soccer body UEFA said in a statement.
Infantino is promising every FIFA member, 211 of them, a $20 million payday once FFE is funded at $20 billion. He also hints at a larger payday down the road, something to the tune of $60 million-plus.
Thrive Eternal, a company launched by Kushner, is expected to lead the investment push for FFE. Thrive is a capital investment firm created earlier this year to buy and hold minority stakes in sports teams and other iconic brands.
Seems Jared Kushner is now the All-America Son-in-Law, not only negotiating peace deals but saving sports organizations from themselves.
