Finance executive involved in FIFA's controversial World Cup plan had links to Jeffrey Epstein

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FT Desk

One of the finance executives heavily involved in FIFA's controversial proposal to sell shares in the World Cup to private equity firms hasd links to Jeffrey Epstein.

Two weeks ago, The Times reported FIFA President Gianni Infantino's plans and the news received an overwhelming negative reaction, with the fallout still being felt in the football world.

UEFA threatened to boycott any future World Cup tournament and that sentiment was shared by the governing bodies of Asian football and South American football.

FIFA and Infantino shared an open letter to members apologising for the lack of communication surrounding the plans, but not for the actual plans.

Under the plans, a new commercial company would have been established to oversee FIFA's flagship men's and women's World Cups, as well as the Club World Cup. Critics believed such a structure would increase pressure to expand the tournaments further or stage them more frequently than their current four-year cycle, and in more financially beneficial geographic areas like the US.

Joshua Kushner, the brother of Donald Trump's son-in-law, Jared Kushner, was the leading prospective investor from private equity, with JP Morgan also viewed as a key financial backer.

According to the Telegraph, one of the few people who knew of the plans, even before some senior employees at FIFA, was JP Morgan's head of their asset and wealth management division, Mary Erdoes.

The outlet reports that Erdoes had links with Epstein before his death by suicide in 2019.

Investigations from authorities in the United States determined that Erdoes only ended JP Morgan’s relationship with Epstein in 2013, five years after he was convicted in Florida of procuring a minor for prostitution.

Though any direct communications between Erdoes and Epstein were mostly about banking, she wished him a happy birthday in 2012.

JP Morgan told The Banker: “We regret any association we had with the man [Epstein], but did not help him commit his heinous crimes.

“The firm filed multiple Suspicious Activity Reports beginning in 2002 but heard nothing back from the government.

“Mary Erdoes made the decision to close his accounts in 2013, six years before his arrest. Mary has always held herself and her colleagues to the highest standards of integrity and trust, is consistently recognised as one of the top executives in financial services and continues to be a critically important leader of our firm.”

The Banker is a finance news outlet that first reported the connection between Erdoes and Epstein.

In 2021, JP Morgan was forced to issue an apology for their part in the creation of plans for the European Super League.

Like with the FIFA Forward Enterprises, the European Super League plans were scrapped after the passionate blowback from football fans and organisations around the world.