UEFA is gearing up to lodge a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement regarding his failed proposal to sell forthcoming World Cup revenues to private investors. The filing of documents in a Manhattan court by UEFA on Thursday seeks to uncover potential evidence from the New York investment fund, Thrive Capital Management, established by Joshua Kushner.
Furthermore, UEFA has submitted a request in a southern Florida district to authorize discovery “in a foreign proceeding” against FIFA itself, which maintains offices in the Miami suburb of Coral Gables. Thrive and Kushner were slated to be the primary investors planning to offer FIFA $4.2 billion for a 20 percent share in a subsidiary tasked with managing the soccer body’s commercial events, including the World Cup.
In a 56-page document obtained by The Associated Press, UEFA’s lawyers indicated that they are exploring the possibility of a Swiss criminal proceeding against Infantino and potentially other FIFA officials for criminal mismanagement under Article 158 of the Swiss Criminal Code. The document raises concerns that the $4.2 billion figure may be an “off-market price promoted by Infantino for his own gain.”
Infantino abandoned the sell-off scheme on August 1 following a strong rebuke from global soccer authorities, including UEFA. UEFA had initially threatened legal action on August 3, cautioning FIFA against tampering with or concealing any “relevant materials” linked to the proposal.
According to UEFA’s legal team, Infantino depicted the plan as a means to “unleash the commercial potential and opportunity that FIFA has,” but in reality, it was a ploy for Infantino and a select group to secure a lasting stake in and profit from FIFA’s most valuable assets at the expense of FIFA, its members, and other entities within the football community.
FIFA and Thrive representatives have been contacted for their comments on the matter. Notably, earlier on Thursday, Saudi Arabia, the host nation for the 2034 World Cup, publicly expressed support for Infantino’s endeavors to foster global soccer unity. The Saudi Arabian Football Federation (SAFF) conveyed their backing for Infantino’s initiatives via a social media post.
Infantino has cultivated strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure as FIFA president, facilitating the kingdom’s hosting of the 2034 World Cup. Both individuals recently attended a Saudi-sponsored video gaming event in Paris, showcasing their close relationship.