UEFA is gearing up to lodge 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 filing of documents in a Manhattan court by UEFA on Thursday seeks the discovery of potential evidence from the New York investment fund, Thrive Capital Management, established by Joshua Kushner. Additionally, UEFA has made a request in a southern Florida district for authorization of discovery in a foreign proceeding against FIFA itself, which has offices in Coral Gables, a Miami suburb.
Thrive Capital Management and Joshua Kushner were slated to be the main investors willing 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 representatives, in a 56-page document obtained by The Associated Press, mentioned that they are considering a Swiss criminal proceeding against Infantino and potentially other FIFA officials for criminal mismanagement as per Article 158 of the Swiss Criminal Code. The document also implies that the $4.2 billion valuation could be an inflated price promoted by Infantino for personal gain.
Infantino shelved 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 concealing or destroying any pertinent materials related to the proposal. UEFA’s legal team claimed in court that Infantino’s plan, touted as a way to maximize FIFA’s commercial potential, was essentially a vehicle for his personal benefit and that of a select few, at the expense of FIFA, its members, and other entities within the football community.
FIFA and Thrive representatives have been contacted for comments on the matter. Earlier on the same day, Infantino received support from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) issued a statement on social media expressing its current backing for Infantino’s endeavors to foster global unity in soccer. Infantino has cultivated strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a role in steering the 2034 World Cup bid towards the kingdom. Both were present at a video gaming event sponsored by Saudi Arabia in Paris over the weekend.