JP MORGAN BANKER WHO LED INFANTINO’S FIFA SELL-OFF HAS EPSTEIN TIES EXPOSED

Emails sent to paedophile financier include birthday greetings four years after his conviction of procuring a minor for prostitution

Mary Erdoes led the efforts to find investors for Gianni Infantino’s Fifa sell-off plan Credit: Simon Dawson/Bloomberg

The JP Morgan Chase banker who was one of the secret figures behind the Fifa sell-off plan is also under pressure for her links to the late paedophile and financier Jeffrey Epstein.

Mary Erdoes, 58, the head of the asset and wealth management division, led the bank’s efforts to find investors prepared to take part of the 20 per cent stake in Fifa which its president Gianni Infantino sought to sell.

Erdoes has also come under scrutiny for her previous longstanding connection to Epstein, who died in 2019. Documents released by the US authorities indicate 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.

Emails exchanged between the pair, first reported by The Banker financial news site, suggest that they were in contact regarding banking. Erdoes emailed Epstein birthday greetings from her JP Morgan account in 2012. The pair were in indirect contact via staff about the banking arrangements for another associate of Epstein, Kathryn Ruemmler, the former Goldman Sachs executive.

Kathryn Ruemmler (centre) former chief legal officer of Goldman Sachs, has also been linked to Jeffrey Epstein Credit: Al Drago/Reuters

Erdoes is, according to the New York Times, understood to be one of the few individuals who knew about Infantino’s plans as they were formulated. Those involved selling a 20 per cent stake in Fifa at a value of $4.2bn (£3.1bn) to investors led by Joshua Kushner – the brother of US president Donald Trump’s son-in-law, Jared Kushner – and others. Infantino did not reveal the plan to his closest staff until days before the World Cup final.

Joshua Kushner’s investment vehicle, Thrive Eternal, and Fifa planned to use JP Morgan to find fellow investors for the putative sale, which was subsequently abandoned by Infantino. The Fifa Forward Enterprise (FFE) project caused uproar in world football and has left Infantino fighting for his future as Fifa president. The European governing body, Uefa, as well as counterparts in Asia and North and Central America have threatened to break away.

Erdoes, the bank’s second-highest earner last year on $32m (£24m), has not commented on her links to Infantino. The connection between the pair is not clear, although Infantino has been on stage with Erdoes when he spoke at a staff meeting at the bank.

Erdoes, the bank’s second-highest earner last year on $32m (£24m), has not commented on her links to Infantino. The connection between the pair is not clear, although Infantino has been on stage with Erdoes when he spoke at a staff meeting at the bank.

Previously JP Morgan apologised for its role in financing the 2021 European Super League. It is yet to make any comment on its role in FFE, or the relationship between Erdoes, the bank and Infantino.

Erdoes (right) and Infantino appeared together after he attended JP Morgan’s town hall Credit: Mary Erdoes on LinkedIn

In terms of Erdoes’s dealings with Epstein, 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.”



JP Morgan banker who led Infantino’s Fifa sell-off has Epstein ties exposed

Emails sent to paedophile financier include birthday greetings four years after his conviction of procuring a minor for prostitution



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Mary Erdoes led the efforts to find investors for Gianni Infantino’s Fifa sell-off plan Credit: Simon Dawson/Bloomberg

Sam Wallace

Chief Football Writer

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Published 10 August 2026 7:10pm BST

The JP Morgan Chase banker who was one of the secret figures behind the Fifa sell-off plan is also under pressure for her links to the late paedophile and financier Jeffrey Epstein.

Mary Erdoes, 58, the head of the asset and wealth management division, led the bank’s efforts to find investors prepared to take part of the 20 per cent stake in Fifa which its president Gianni Infantino sought to sell.

Erdoes has also come under scrutiny for her previous longstanding connection to Epstein, who died in 2019. Documents released by the US authorities indicate 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.

Emails exchanged between the pair, first reported by The Banker financial news site, suggest that they were in contact regarding banking. Erdoes emailed Epstein birthday greetings from her JP Morgan account in 2012. The pair were in indirect contact via staff about the banking arrangements for another associate of Epstein, Kathryn Ruemmler, the former Goldman Sachs executive.

Kathryn Ruemmler (centre) former chief legal officer of Goldman Sachs, has also been linked to Jeffrey Epstein Credit: Al Drago/Reuters

Erdoes is, according to the New York Times, understood to be one of the few individuals who knew about Infantino’s plans as they were formulated. Those involved selling a 20 per cent stake in Fifa at a value of $4.2bn (£3.1bn) to investors led by Joshua Kushner – the brother of US president Donald Trump’s son-in-law, Jared Kushner – and others. Infantino did not reveal the plan to his closest staff until days before the World Cup final.

Joshua Kushner’s investment vehicle, Thrive Eternal, and Fifa planned to use JP Morgan to find fellow investors for the putative sale, which was subsequently abandoned by Infantino. The Fifa Forward Enterprise (FFE) project caused uproar in world football and has left Infantino fighting for his future as Fifa president. The European governing body, Uefa, as well as counterparts in Asia and North and Central America have threatened to break away.

Erdoes, the bank’s second-highest earner last year on $32m (£24m), has not commented on her links to Infantino. The connection between the pair is not clear, although Infantino has been on stage with Erdoes when he spoke at a staff meeting at the bank.

Previously JP Morgan apologised for its role in financing the 2021 European Super League. It is yet to make any comment on its role in FFE, or the relationship between Erdoes, the bank and Infantino.

Erdoes (right) and Infantino appeared together after he attended JP Morgan’s town hall Credit: Mary Erdoes on LinkedIn

In terms of Erdoes’s dealings with Epstein, 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.”

Meanwhile, Fifa will face a further embarrassing episode on Wednesday when Omar Artan – the Somali referee refused entry to the United States for the World Cup – will take charge of Uefa’s curtain-raising Super Cup.

Artan has spoken about the “very tough period” he faced when denied entry to the US at Miami International Airport in June, before what should have been the highlight of his career.

Tensions were already high between Fifa and Uefa before the start of the World Cup, in which Infantino attracted further scrutiny for his role in the decision to suspend the two-match ban given to United States striker Folarin Balogun. In what was a thinly veiled move to humiliate the global governing body, Artan was named the match referee for Wednesday’s Super Cup in Salzburg between Aston Villa and Paris St-Germain.

Omar Artan was denied entry into the US before the World Cup, as Somalia is on the country’s travel ban list Credit: Hassan Ali Elmi/Getty Images

Artan said on Monday: “It was a very tough period. A lot of people have sympathy for me, because when someone has been working a lot of years and is supposed to do something, and then can’t do it, it’s very challenging.

“I really appreciate the support I received throughout the world, though; I’m so grateful.”

Artan, 34, was subjected to an 11-hour immigration interview before he was denied entry to the US. Somalia is one of the 12 countries on the United States travel-ban list. Infantino later admitted publicly that he was powerless to overrule the ruling from Donald Trump’s administration.

The Fifa president told critics at a press conference before the World Cup to “chill and relax” about the controversy, and added: “We work on everything, we try to resolve everything, [but] immediately screaming and shouting, that’s the opposite of finding a solution.”

Aleksander Ceferin, the Uefa president, reacted by appointing Artan for the Super Cup, where he will become the first African official to take charge of the European season opener.

Artan added: “When we got this call it was, for me and my family, really a very, very happy moment. There’s a big Somali community in Europe and in Austria, and they are over the moon with me officiating a match like this.”

- Sam Wallace

GIANNI INFANTINO PLANS TO SELL WORLD CUP IN 'NUCLEAR BOMB' OF FOOTBALL

Fifa president would expect to bank millions as head of new company that would control tournament after his current term ends in 2031

Gianni Infantino is Fifa president until 2031 Credit: Eduardo Verdugo/AP

Gianni Infantino, the president of Fifa, is plotting a World Cup sell-off to private investors.

Uefa, the European governing body of football and an increasingly vocal critic of Fifa, reacted with fury to a proposed £15bn deal, accusing it of trading the game’s “soul”.

Telegraph Sport understands Uefa is now considering its legal options over the biggest threat to football as it currently exists since the failed 2021 Super League plot. One source said a “nuclear bomb” had gone off in the game. The Football Association was said to be completely blindsided by the proposals.

The plan, announced nine days after the World Cup, would result in a group of investors controlling the commercial interests of Fifa’s top men’s and women’s competitions.

Thrive Capital – run by Joshua Kushner, the younger brother of Donald Trump’s son-in-law, Jared Kushner – will lead the proposed investor group. Sources played down suggested involvement from the Trump administration in the plans.

Infantino has been heavily criticised for cosying up to Trump in the lead up to and during the 2026 World Cup, which culminated in the US president personally intervening to successfully get Folarin Balogun’s suspension overturned for the co-host’s last-16 match.

Saudi Arabia, who will host the 2034 World Cup, are highly likely to express interest in the company via their PIF sovereign wealth fund, and Qatar have maintained close ties to Infantino since winning the hosting rights of the 2022 World Cup.

JP Morgan, which was previously involved in the abandoned Super League plot, is Fifa’s financial adviser on the project.

Although there is no binding agreement on the plans, they increase the likelihood of an expanded World Cup or the tournament being held more regularly than every four years.

The move would also include the women’s World Cup and Club World Cup, which could both be played more frequently than the current four-year cycles.

One senior football figure said of Infantino: “He has definitely lost his mind. We will fight it fiercely.”

Another senior figure in European football told Telegraph Sport: “This is one man trying to make himself incredibly rich. Fifa doesn’t need the money, nor do the member associations as they have plenty from the World Cup.”

Fifa’s commercial rights spanning broadcast, sponsorship, ticketing, and licensing would be privately owned under the plans.

‘None of us own football – it is not Fifa’s to sell’

Uefa said in a statement: “This crosses a line that football’s governing institutions should never cross. Uefa takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game. The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not Fifa’s to sell."

Fifa, on Tuesday afternoon, said in a press release: “[it] intends to expand football development funding to over $10bn (£7.5bn), subject to approval by Fifa member associations.

“If approved, football development in every corner of the world would benefit immediately from increased funding available to all 211 Fifa member associations.”

A so-called Fifa forward enterprise (FFE) project which would consolidate all commercial and event operations “would raise up to $4.2bn later this year”, projections said.

The numbers are based on an initial equity valuation of $20bn (£15bn) “by carefully selecting long-term investors who will purchase minority, non-controlling interests in FFE”.

“All net benefits of FFE will be reinvested back into football worldwide,” the plan claimed.

Sepp Blatter, the former Fifa president, joined the backlash on Tuesday night. “The close relationship between the Fifa president and the US president has reached a financial dimension that is deeply damaging football,” he wrote on X. “No one has the right to sell our game.”

Infantino defends plans

Greg Maffei, the chief executive of Bann Ventures and formerly president and chief executive of Liberty Media during its acquisition and ownership of Formula One, has been a key commercial adviser and will remain involved, Telegraph Sport understands. Other advisers such as OpenEconomics are engaging with prospective long-term investors.

“The process is focused on assembling a geographically diversified investor group that reflects the global nature of Fifa and the game; expressions of interest to date include investors from across every major region of the world: Europe, the Americas, Asia and Africa,” a Fifa press release said.

Infantino said: “Our next stage of growth needs a structure built for it, one where the commercial side of the game operates as a focused, dedicated business, with its value shared more and better all around the world. Every Fifa member association should have an opportunity to seek a fair share of the available funding to shape its own future, deciding for itself rather than relying on others. This is about the democratisation of football worldwide.”

Who would be chief beneficiaries?

If approved, Fifa would offer each of its 211 member associations “the opportunity” to access up to $20m “in one-off capital”.

“The process is focused on assembling a geographically diversified investor group that reflects the global nature of Fifa and the game; expressions of interest to date include investors from across every major region of the world: Europe, the Americas, Asia and Africa,” a Fifa press release said.

Infantino said: “Our next stage of growth needs a structure built for it, one where the commercial side of the game operates as a focused, dedicated business, with its value shared more and better all around the world. Every Fifa member association should have an opportunity to seek a fair share of the available funding to shape its own future, deciding for itself rather than relying on others. This is about the democratisation of football worldwide.”

Who would be chief beneficiaries?

If approved, Fifa would offer each of its 211 member associations “the opportunity” to access up to $20m “in one-off capital”.

“Participation would be entirely voluntary, and no member association would be required to participate,” the details stipulated. “The additional funding would be financed through FFE’s planned initial capital raise of up to $4.2bn (£3.1bn).”

The Times and Financial Times were first to report the outline plans. Fifa has denied claims Infantino was being lined up to become chief executive of the new entity. He would expect to bank millions of pounds if he took up such a role.

“However, the Fifa president and the Fifa administration will and must have leading roles in this entity – if approved – to always be in control of any Fifa subsidiary in accordance with Fifa’s statutes and regulations for the benefit of Fifa member associations,” a statement added.

The governing body said that “Jared Kushner is not an investor” and also denied suggestions staff had signed non-disclosure agreements over the plans.

The move comes amid growing pressure on Infantino following a rant in which he defended the World Cup and his position as the head of world football.

On Monday, a Democrat attorney requested Infantino appear before the House Judiciary Committee to discuss the extent of his relationship with Trump. Representative Jamie Raskin, the senior member on the committee, also requested Fifa provide all of its records on its contacts with Trump, his administration and the Trump Organisation family business.

- Tom Morgan and Ben Rumsby

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