UEFA is gearing up to lodge a criminal complaint against FIFA’s President Gianni Infantino in Swiss courts for potential financial mismanagement concerning his unsuccessful proposal to sell future World Cup profits to private investors. The European soccer governing body disclosed on Thursday that it had submitted legal documents in a Manhattan court seeking access to possible evidence from the New York investment firm, Thrive Capital Management, which was founded by Joshua Kushner.
Additionally, UEFA has made a request in a southern Florida district for approval of discovery related to a “foreign proceeding” against FIFA itself, which maintains offices in the Miami suburb of Coral Gables. The intended anchor investors, Thrive and Kushner, were slated to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing the soccer organization’s commercial events, including the prestigious World Cup.
In a 56-page document reviewed by The Associated Press, UEFA’s lawyers indicated that they are considering initiating a Swiss criminal proceeding against Infantino and potentially other FIFA officials for criminal mismanagement under Article 158 of the Swiss Criminal Code. The document suggested that the $4.2 billion valuation could be a “fraudulently off-market price promoted by Infantino for his own benefit.”
Infantino abandoned the sell-off plan on August 1 following strong opposition from global soccer leaders, including UEFA. UEFA had initially threatened legal action on August 3, cautioning FIFA against tampering with or concealing any pertinent materials linked to the proposal. According to UEFA’s lawyers, Infantino’s assertion that the plan would unlock FIFA’s commercial potential was misleading, as it was primarily designed to benefit him and a select group to gain a lasting stake 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 their 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) expressed its current backing for Infantino’s endeavors to unify global soccer. Infantino has cultivated strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a role in directing the 2034 World Cup towards the kingdom. Both individuals attended a Saudi-sponsored video gaming event in Paris recently.
