FIFA reportedly planned to establish a separate legal entity to manage the sale of the World Cup. Because FIFA is officially registered as a non-profit organization, it cannot directly sell the championships itself. To facilitate this, the organization would create a new company, named “FIFA Forward Enterprise” (FFE).
The structure of this enterprise involved FIFA retaining control, but a portion of ownership was slated for private investment. Specifically, between 20% and 30% of the controlling package would be sold to private businesses. Among the identified investors in this venture was “Thrive Capital,” a company founded by Joshua Kushner, who is the younger brother of Jared Kushner, Donald Trump’s son-in-law.
Furthermore, another 20% of the shares in the new legal entity would be distributed among all 211 FIFA member associations. This distribution would include the Lithuanian football associations. The details of this plan were reportedly consulted on, with suggestions suggesting that the administration of the former president, Donald Trump, indirectly contributed to the framework for implementing the sale.
This restructuring was designed to allow FIFA to pursue commercial opportunities related to the World Cup.
Topics: #fifa #president #sell
