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Trump Denies Speaking to FIFA President About $20 Billion Stake Sale
U.S. President Donald Trump on Friday denied having any discussions with FIFA President Gianni Infantino regarding the world soccer governing body's plan to sell stakes in a new $20 billion commercial entity.
Trump's Remarks
Speaking to reporters at Camp David, the president stated that he did not speak with Infantino about the proposal, according to a Reuters report. The comments address questions surrounding a significant potential investment deal involving figures connected to his administration.
Details of the FIFA Proposal
The denial follows a FIFA announcement on Tuesday outlining a plan to create a new subsidiary valued at $20 billion. This new entity would be responsible for running the World Cup and other major global soccer events.
AdUnder the plan, FIFA intends to offer up to a 20% stake in the subsidiary to a group of external investors. This move would represent a major strategic shift in how the organization commercializes its most valuable assets.
Kushner Connection
According to FIFA, the investor group is expected to be led by a vehicle founded by Joshua Kushner. Joshua Kushner is the brother of Jared Kushner, President Trump’s son-in-law and a senior White House advisor. The source report noted that Trump and Infantino have maintained a close relationship, particularly after the FIFA World Cup hosted in the United States this summer.
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