Thrive Capital's Kushner Defends Involvement in FIFA Controversy
Josh Kushner, founder of venture firm Thrive Capital, has publicly defended his company’s involvement in a controversial FIFA proposal that aimed to create a new entity called FIFA Forward Enterprise (FFE). The plan would have allowed member associations to sell shares to private investors like Thrive. However, the initiative faced significant backlash from European and North American teams due to concerns over outside influence—particularly from private equity—and was ultimately scrapped before any vote could take place. The fallout has grown more intense as UEFA is now pursuing legal action against FIFA President Gianni Infantino and seeking documents related to Thrive’s involvement. The U.S.-based firm JPMorgan had been tasked with identifying investors for the deal, which included a $4.2 billion secondary share sale at a $20 billion valuation. Kushner acknowledged that while the idea was intended to distribute more capital evenly across all 211 FIFA member countries—especially benefiting underdeveloped nations—he admitted Thrive underestimated the political complexities of global football and would not have participated had they foreseen the controversy.
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Topics: FIFA investment deal Josh Kushner scandal Thrive Capital