00:00FIFA's controversial plan to sell a stake in its media division started in secret talks between Gianni Infantino and venture
00:08capitalist Joshua Kushner.
00:10Bloomberg can reveal that last year the FIFA boss met with Joshua Kushner, brother to Jared Kushner, who's the son
00:17-in-law of President Donald Trump.
00:19Those talks continued through this year's World Cup, focused on helping FIFA maximize revenue from its commercial assets.
00:26Football's international governing body is considering raising as much as $4.2 billion from external investors.
00:33While the non-profit rakes in cash every four years from the Men's World Cup, about $15 billion in 2026,
00:41it loses money in the off years.
00:43But the idea has sparked outrage across the worlds of sports and politics, with everyone from EU officials to new
00:51UK Prime Minister Andy Burnham criticising the move.
00:54Even European football organiser UEFA is considering a boycott of FIFA tournaments.
01:00For now at least, Bloomberg understands that Infantino's FIFA is showing no signs of reversing course.
01:07JP Morgan is preparing its pitch document to send to investors, whilst the body has given member associations a September
01:14deadline to support its plans or face losing out on funding.
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