New controversy involving Trump and Infantino as FIFA unveils plan to sell World Cup stakes to investors

FIFA President Gianni Infantino’s plan to create a $20 billion (€17.5 billion) company running the World Cup with private investors – including the family of US President Donald Trump’s son-in-law Jared Kushner – was announced on Tuesday, and immediately attacked by European football governing body UEFA, Euronews writes.

Infantino plans to form a commercial subsidiary, which would be called “FIFA Forward Enterprise” (FFE), running competitions like the World Cup and Club World Cup.

FIFA said in a statement FFE would raise up to $4.2 billion later this year to help fund development programs “based on an initial equity valuation of $20 billion by carefully selecting long-term investors who will purchase minority, non-controlling interests.”

FIFA is working with the New York-based JP Morgan while intended investors include Thrive Eternal launched by Joshua Kushner, whose brother Jared is married to Ivanka Trump, daughter to the US president.

The initiative, announced on Tuesday, was immediately met with strong criticism from UEFA.

“This crosses a line that football’s governing institutions should never cross. UEFA takes it extremely seriously. So should every National Football Association,” UEFA said.