Sources: FIFA's criticized investor plan is collapsing

A contentious plan by the International Football Federation (FIFA) to sell a stake in its tournaments to private investors has reportedly collapsed following widespread opposition from football executives worldwide. The New York Post reported the development late Friday, citing four unnamed sources familiar with the matter.

While there has been no official announcement regarding the plan's abandonment, it centered on establishing an independent commercial company named Fifa Forward Enterprise (FFE). This entity would have allowed private investors to acquire a 20% share, with an estimated valuation of around $20 billion.

The investment firm Thrive Eternal, founded by Joshua Kushner, brother of former President Donald Trump's son-in-law Jared Kushner, was slated to lead the investor group. However, one anonymous source told the New York Post, "There is no chance they want to continue their involvement in this mess. Kushner will find another way to get involved in this area. This is turning into a reputational nightmare."

According to three other sources, Thrive has begun discussions to abandon the plans. The banking group JPMorgan, reportedly advising on the deal, also does not expect it to proceed. The proposed deal faced significant backlash from various stakeholders within the global football community.

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There is no chance they want to continue their involvement in this mess. Kushner will find another way to get involved in this area. This is turning into a reputational nightmare.