UEFA is gearing up to lodge a criminal complaint against FIFA president Gianni Infantino in Swiss courts due to potential financial mismanagement surrounding his abandoned proposal to sell future World Cup earnings to private investors. The move comes after UEFA submitted legal documents in a Manhattan court seeking evidence from the New York investment firm, Thrive Capital Management, founded by Joshua Kushner. Additionally, UEFA has filed a request in a southern Florida district to authorize discovery in a foreign proceeding against FIFA, which maintains offices in Coral Gables.
The proposed deal involved Thrive and Kushner as anchor investors planning to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing the soccer body’s commercial events, including the World Cup. UEFA’s legal team, as detailed in a 56-page document obtained by The Associated Press, is contemplating a criminal proceeding in Switzerland against Infantino and potentially other FIFA officials for alleged criminal mismanagement under Article 158 of the Swiss Criminal Code. The document raises concerns that the $4.2 billion valuation could be a “fraudulently off-market price promoted by Infantino for his own gain.”
Infantino shelved the sell-off proposal on August 1 following strong opposition from global soccer leaders, including UEFA. UEFA had initially issued a warning to FIFA on August 3 to preserve any pertinent materials related to the plan. The legal document submitted by UEFA’s attorneys alleges that the plan was purported to unlock FIFA’s commercial potential but was actually a scheme for Infantino and a select group to secure a lasting stake and profit from FIFA’s prized assets to the detriment of FIFA, its members, and other stakeholders in the football community.
FIFA and Thrive have been contacted for comment on the matter. Notably, Infantino received backing from Saudi Arabia, the host of the 2034 World Cup, as the Saudi Arabian Football Federation expressed support for his efforts to promote global soccer unity. Infantino has cultivated strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his presidency and played a role in directing the 2034 World Cup to the country. The two recently attended a Saudi-sponsored gaming event in Paris.