UEFA prepares criminal complaint against Infantino over collapsed FIFA sell-off plan
UEFA is preparing to file a criminal complaint in Swiss courts against FIFA President Gianni Infantino over alleged financial mismanagement tied to his scrapped plan to sell future World Cup profits to private investors. It has already sought evidence discovery through US courts.
UEFA is preparing to bring a criminal complaint against FIFA President Gianni Infantino before Swiss courts, citing possible financial mismanagement connected to his now-abandoned plan to sell a share of future World Cup profits to private investors.
On Thursday, European football's governing body said it had filed documents in a Manhattan court seeking discovery of potential evidence from Thrive Capital Management, a New York investment fund founded by Joshua Kushner. UEFA also filed a separate request in a southern Florida district court seeking authorisation for discovery in a foreign proceeding against FIFA itself, which maintains offices in Coral Gables, near Miami.
What the plan involved
Thrive and Kushner had been lined up as anchor investors, intending to pay FIFA $4.2 billion for a 20% stake in a subsidiary that would oversee the organisation's commercial events, including the World Cup.
According to a 56-page document from UEFA's lawyers, seen by the Associated Press, UEFA and its legal counsel are weighing a Swiss criminal proceeding against Infantino and possibly other FIFA officials under Article 158 of the Swiss Criminal Code, which covers criminal mismanagement. The document suggests the $4.2 billion figure may have been an off-market price promoted for Infantino's own benefit.
Infantino dropped the sell-off plan on August 1 following strong pushback from global football leaders, including UEFA. UEFA had already warned FIFA on August 3 against destroying or concealing any materials related to the plan, signalling that legal action could follow.
UEFA's lawyers argue that while Infantino described the plan as a way to unlock FIFA's commercial potential, it was in reality designed to let Infantino and a small circle of associates secure a lasting financial stake in FIFA's most valuable commercial assets, at the expense of FIFA, its member associations and other stakeholders. They further contend that the proposed terms implied an unrealistically low valuation of FIFA's commercial arm — around $20 billion — a figure not derived from a competitive auction or verified by an independent valuation. FIFA and Thrive have been asked for comment but have not yet responded.
