Donald Trump refuted claims of discussing the potential sale of World Cup stakes to a company associated with his family with Gianni Infantino. The US President made this denial following a public Cabinet meeting at Camp David. Infantino’s confidential proposal, disclosed recently, outlined a plan to create a new $20 billion subsidiary for the commercial operations of the World Cup, with 20% ownership by private investors. The primary investor in this venture would be a New York investment firm founded by Joshua Kushner, who is the brother of Trump’s son-in-law, Jared Kushner.
Trump insisted that he never had any conversations with Infantino regarding this matter. Over the past weeks, Trump and Infantino have cultivated a close relationship, particularly during the North American World Cup events. Infantino has actively sought Trump’s favor since the early stages of Trump’s second term.
Shortly after Trump returned to the Oval Office, a replica of the World Cup was presented to him as a gift from Infantino. Subsequently, Trump was granted permission to display a replica of the World Club Cup trophy in the Oval Office. Notably, in a bid to appeal to Trump’s aspirations for a Nobel Peace Prize, Infantino established the “FIFA Peace Prize” earlier this year and honored Trump with it. The two leaders spent a significant amount of time together during the recent World Cup Final in New Jersey.
Reports emerged indicating Trump’s desire for Infantino to be appointed as the next UN Secretary General, a prospect even more improbable than Trump winning a peace prize. Last year, Infantino inaugurated a new FIFA office within Trump Tower, solidifying the relationship between the football governing body and the US President.
In a significant development, senior FIFA adviser Carlos Cordeiro, who represented FIFA on the White House Task Force for the World Cup, resigned in protest against the organization’s private equity initiative. Cordeiro, a former Goldman Sachs executive, emphasized his disapproval of the proposed $20 billion commercial subsidiary, labeling it as detrimental to football. He urged other senior FIFA officials to voice their opposition to the plan.
Expressing his strong stance against the proposal, Cordeiro highlighted his extensive experience in football and banking, stressing the negative implications of selling part of such a valuable asset. He called for the rejection of the proposed deal, citing its adverse impact on the sport.
