Donald Trump refutes allegations of discussing a proposal with Gianni Infantino regarding the sale of World Cup stakes to a company connected to his family. The US President dismissed the claims during a televised Cabinet meeting at Camp David. Infantino’s undisclosed plan, unveiled recently, involves spinning off commercial operations into a new $20 billion subsidiary, with 20% ownership by private investors. The primary investor would be a New York investment firm founded by Joshua Kushner, the brother of Trump’s son-in-law Jared Kushner.
Trump asserted, “No, I never spoke to him about it.”
Trump and Infantino have formed a close bond, spending considerable time together during the recent World Cup held in North America. Infantino has been actively seeking Trump’s favor since early in his second term as President. A replica of the World Cup was presented to Trump upon his return to the Oval Office, followed by the display of a replica of the World Club Cup trophy. In a notable gesture, Infantino created the “FIFA Peace Prize” earlier this year, awarding it to Trump. The two leaders shared most of the day together during the World Cup Final in New Jersey.
Reports emerged later suggesting Trump’s endorsement for Infantino as the next UN Secretary General, further strengthening their relationship. Last year, Infantino inaugurated a new FIFA office within Trump Tower, deepening the ties between FIFA and the US President.
Carlos Cordeiro, a senior FIFA adviser who resigned from his position on Friday, expressed dissent over FIFA’s contemplation of selling a stake in the World Cup. Cordeiro, a former Goldman Sachs banker, emphasized his lack of involvement in the proposal and his strong opposition to it, labeling the $20 billion subsidiary as detrimental to football.
Cordeiro, emphasizing his extensive experience in both football and banking, highlighted the asset’s value and cautioned against conceding a portion of it. He urged the rejection of the proposal, stating, “Football has been central to my life, and after more than 35 years in banking, I understand both the value of this asset and the consequences of giving part of it away. That is why this proposal should be rejected.”