UEFA is gearing up to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement related to his unsuccessful proposal to sell future World Cup revenues to private investors. The action comes after UEFA submitted documents in a Manhattan court seeking evidence from Thrive Capital Management, a New York investment fund founded by Joshua Kushner.
Furthermore, UEFA has also requested authorization for discovery in a southern Florida district in connection with FIFA itself, which has offices in Coral Gables, a suburb of Miami. The plan involved Thrive and Kushner as anchor investors planning to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing FIFA’s commercial events, including the World Cup.
According to a 56-page document reviewed by The Associated Press, UEFA’s lawyers are considering a Swiss criminal proceeding against Infantino and potentially other FIFA officials for criminal mismanagement under Article 158 of the Swiss Criminal Code. The document suggests that the $4.2 billion valuation could be an inflated price promoted by Infantino for personal gain.
Infantino abandoned the sell-off proposal 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 relevant materials related to the plan.
UEFA’s lawyers stated that Infantino’s plan was purported to unlock FIFA’s commercial potential but was actually a scheme for a select group to secure a permanent stake in FIFA’s valuable assets to the detriment of FIFA, its members, and other entities in the football community. FIFA and Thrive have been contacted for comment.
Earlier on the same day, Infantino received support from Saudi Arabia, the host of the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) expressed its backing for Infantino’s efforts to foster global soccer unity. 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 to the kingdom. Both attended a Saudi-sponsored video gaming event in Paris recently.
