UEFA is gearing up to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement linked to his unsuccessful proposal to sell future World Cup profits to private investors. On Thursday, UEFA confirmed it submitted documents in a Manhattan court seeking discovery of potential evidence from the New York investment firm, Thrive Capital Management, founded by Joshua Kushner. Additionally, UEFA lodged a request in a southern Florida district for authorization of discovery “in a foreign proceeding” against FIFA, which has offices in Coral Gables, a Miami suburb.
Thrive and Kushner were set to be the main investors planning to pay FIFA $4.2 billion for a 20% stake in a subsidiary assigned to manage the soccer body’s commercial events, including the World Cup.
“UEFA and its legal team are considering a Swiss criminal proceeding against Infantino and potentially other FIFA officials for criminal mismanagement under Article 158 of the Swiss Criminal Code,” revealed UEFA’s lawyers in a 56-page document obtained by The Associated Press. The document suggested that the $4.2 billion valuation could be a “fraudulent off-market price promoted by Infantino for his own gain.”
Infantino abandoned the sell-off initiative on August 1 following strong opposition from global soccer leaders, including UEFA. UEFA initially threatened legal action on August 3, cautioning FIFA against tampering with or concealing any “relevant materials” related to the proposal.
“Infantino asserted that the plan would ‘unlock the commercial potential and opportunity that FIFA has,'” UEFA’s lawyers informed the courts. “In reality, it was a scheme for Infantino and a select group to secure a lasting interest in and profit from FIFA’s most valuable assets to the detriment of FIFA, its members, and other entities within the football community.”
Representatives for FIFA and Thrive have been contacted for comments. Earlier on Thursday, Infantino received public support from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) released a statement on social media expressing its current backing for Infantino’s efforts to mend global unity in soccer. Infantino has cultivated strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his decade-long presidency, and played a role in directing the 2034 World Cup towards the kingdom. Both attended a Saudi-sponsored video game event in Paris recently.