UEFA is gearing up to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement regarding his abandoned proposal to sell future World Cup profits to private investors. The move comes as UEFA recently lodged documents in a Manhattan court seeking to uncover potential evidence from the New York investment fund, Thrive Capital Management, established by Joshua Kushner.
Furthermore, UEFA has also made a request in a southern Florida district to seek approval for discovery “in a foreign proceeding” against FIFA, which maintains offices in Coral Gables, a Miami suburb. The planned investors, Thrive and Kushner, were set to pay FIFA $4.2 billion in exchange for a 20% stake in a subsidiary tasked with managing the soccer organization’s commercial events, including the prestigious World Cup.
According to a 56-page document reviewed by The Associated Press, UEFA’s attorneys are contemplating pursuing a Swiss criminal case against Infantino and potentially other FIFA officials for alleged criminal mismanagement under Article 158 of the Swiss Criminal Code. The document suggests that the $4.2 billion valuation could be an “off-market price promoted by Infantino for his personal gain.”
Infantino shelved the sell-off initiative on August 1 following strong opposition from global soccer authorities, including UEFA. The European body had initially issued a legal threat on August 3, cautioning FIFA against tampering with or concealing any pertinent materials related to the plan.
UEFA’s legal representatives stated to the courts that “Infantino claimed that the plan would ‘unleash the commercial potential and opportunity that FIFA has,'” but alleged that it was primarily a vehicle for Infantino and a select group to secure a lasting stake in and profit from FIFA’s most valuable assets to the detriment of FIFA, its affiliates, and other entities in the football community.
Representatives for FIFA and Thrive have been contacted for their responses. Additionally, on the same day, Infantino received backing from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) expressed support for Infantino’s efforts to foster global unity in soccer at the present time.
Infantino has cultivated strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure, playing a role in steering the 2034 World Cup towards the kingdom. Both figures recently attended a Saudi-supported video gaming event in Paris, showcasing their close relationship.