President Donald Trump on Friday told reporters at Camp David that he did not speak with FIFA President Gianni Infantino about the world soccer governing body offering stakes to external investors.

FIFA said on Tuesday it plans to create a $20 billion subsidiary to run the World Cup and its other events and will offer stakes of up to ​20% in it to external investors.

Trump and Infantino have a close relationship after the FIFA World Cup in the United States this summer.

A vehicle founded by Joshua Kushner, the brother of Jared Kushner, U.S. President Donald Trump’s son-in-law, is expected to lead the proposed investor group, FIFA said.

(Reporting by Steve Holland at Camp David, Bo Erickson in Washington; Editing by Caitlin Webber)