UEFA is gearing up to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement related to his failed proposal to sell future World Cup profits to private investors. This move comes after UEFA submitted legal documents in a Manhattan court seeking evidence from the New York investment firm, Thrive Capital Management, established by Joshua Kushner.
Additionally, UEFA has requested authorization for discovery in a southern Florida district concerning a foreign proceeding against FIFA, which has offices in Coral Gables. Under the proposed plan, Thrive and Kushner were slated to be primary investors, offering $4.2 billion for a 20% stake in a subsidiary responsible for managing FIFA’s commercial events, including the World Cup.
A 56-page document reviewed by The Associated Press reveals that UEFA and its legal team are considering initiating a Swiss criminal proceeding against Infantino and potentially other FIFA officials for alleged criminal mismanagement as per Article 158 of the Swiss Criminal Code. The document raises concerns that the $4.2 billion valuation may have been inflated for Infantino’s personal gain.
Infantino abandoned the sell-off initiative on August 1 following strong opposition from global soccer authorities, including UEFA. UEFA had previously cautioned FIFA on August 3 against tampering with or concealing any pertinent materials related to the proposal. According to UEFA lawyers, Infantino’s plan was portrayed as a means to unlock FIFA’s commercial potential but was, in reality, a scheme to benefit a select group at the expense of FIFA, its members, and other entities in the football community.
Requests for comments have been made to representatives of FIFA and Thrive. Notably, Saudi Arabia, the designated host of the 2034 World Cup, expressed support for Infantino’s efforts to foster unity in global soccer. Infantino has cultivated close relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a role in directing the 2034 World Cup to the nation. Both were present at a video gaming event supported by Saudi Arabia in Paris recently.