Uefa boycotts World Cup over Fifa's private equity plan
Uefa has declared a boycott of all Fifa events in response to president Gianni Infantino's proposal to sell shares in the World Cup to private investors. This resolution was reached by Uefa's 55 member federations during an urgent online meeting held on Thursday. The primary investor would be a US firm established by Joshua Kushner, brother of Jared Kushner, who is the son-in-law of US President Donald Trump. Infantino's confidential plan, disclosed on Tuesday, suggests creating a new $20 billion subsidiary for Fifa's commercial operations, with 20% allocated to private investors. Each of Fifa's 211 members has been offered $20 million, with a deadline for acceptance set for mid-September. Uefa criticized Infantino for a "profound failure of leadership," asserting, "Some things are simply too important to sell."
Key facts
- Uefa boycotts all Fifa competitions
- Protest against Infantino's plan to sell World Cup stakes to private equity
- Decision made by 55 Uefa member federations in urgent online meeting on Thursday
- Core investor is a US investment firm created by Joshua Kushner
- Joshua Kushner is brother of Jared Kushner, Trump's son-in-law
- Infantino's proposal: spin off commercial operations into $20 billion subsidiary, 20% owned by private investors
- Each of Fifa's 211 members offered $20 million, deadline mid-September
- Uefa: 'Some things are simply too important to sell'
- Uefa accuses Infantino of failure of leadership and abdication of duty
- Infantino was Uefa staffer and general secretary before leading Fifa since 2016
Entities
Institutions
- Uefa
- Fifa
- Joshua Kushner's investment firm
Locations
- Europe
- New York
- United States