The brother of Donald Trump's son-in-law has expressed regret at becoming involved in Gianni Infantino's World Cup sell-off plans, saying his investment group failed to "appreciate the political dynamics of global football".
It is the first statement on the scandal that has split world football by lead investor Joshua Kushner, the brother of Trump's relative Jared Kushner and chief executive of Thrive Capital.
He was involved in secret talks with Mr Infantino about using his venture capital firm to sell off 20% of the World Cup to private investors before being forced to abandon the FIFA Forward Enterprise plans amid a global outcry led by Europe.
Mr Kushner said in a statement: "Money in football has historically been concentrated amongst a small group of countries.
"The idea behind FFE was to direct more capital and equity equally amongst all 211 member countries, providing significantly more investment to underdeveloped nations to nurture local talent, support grassroots football, enhance the fan experience, and ultimately grow the global game everywhere.
"It was an idea that every Member Association would vote on, not an obligation or determination. While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football, and the lengths some would go to.
"Thrive has a long track record of being a partner to all constituents. Had we known what this would devolve into, we would not have gotten involved."
The statement was first published by US news site Axios and confirmed by Thrive to Sky News.
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UEFA has now asked a New York court to order Mr Kushner, who is not accused of wrongdoing, to hand over evidence linked to the venture as the European governing body pursues a potential criminal case against Mr Infantino in Switzerland.
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