According to Mediaset, Thrive Capital CEO Josh Kushner recently discussed FIFA's failed attempt to sell some of the World Cup's commercial rights to outside investors, and admitted that the company underestimated the political complexities of the global football system during the negotiations.
Previously, FIFA launched a program called "FIFA Forward Enterprise (FFE)," hoping to raise up to $4.2 billion by selling some World Cup-related interests to external investors such as Thrive Capital. The overall valuation of the project once reached approximately $20 billion.
However, the plan has encountered significant resistance and sparked a strong reaction from the football community. Reportedly, last month, UEFA members unanimously voted to boycott the World Cup in protest.
In an interview with the New York Post, Kushner stated that Thrive Capital did not fully understand how global football operates.
"While we agree with the goals behind the FFE plan, we do not understand how politics works in global football, nor did we realize that some people would take such strong actions."
He further stated, "Thrive has always strived to maintain long-term partnerships with all stakeholders. If we had known beforehand that things would develop in this direction, we wouldn't have gotten involved."
This statement from the American investor also means that the plan to promote FIFA's commercial development by introducing external capital has now stalled.
The proposal to introduce private investment in World Cup rights has always been controversial. On the one hand, FIFA hopes to leverage capital to enhance the commercial value of the event; on the other hand, the European football community worries that such transactions could alter the existing football ecosystem and the distribution of profits.
