UEFA is gearing up to lodge a criminal complaint against FIFA president Gianni Infantino in Swiss courts regarding potential financial mismanagement linked to his unsuccessful proposal to sell future World Cup profits to private investors. The move comes as UEFA recently submitted legal documents in a Manhattan court seeking discovery of potential evidence from Thrive Capital Management, a New York investment fund founded by Joshua Kushner.
Additionally, UEFA has also filed a request in a southern Florida district for authorization to uncover evidence in connection with a “foreign proceeding” against FIFA, which has offices in Coral Gables, a suburb of Miami. The intended anchor investors, Thrive and Kushner, were set to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing the soccer body’s commercial events, including the prestigious World Cup.
In a 56-page document reviewed by The Associated Press, UEFA’s legal representatives mentioned that they are contemplating initiating a Swiss criminal proceeding 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 have been a “fraudulently off-market price promoted by Infantino for his own benefit.”
Infantino abandoned the sell-off plan on August 1 following a strong backlash from global soccer leaders, including UEFA, which had threatened legal action on August 3. The UEFA lawyers argue that Infantino’s plan was not about unlocking FIFA’s commercial potential as claimed but rather a scheme to benefit himself and a select group at the expense of FIFA, its members, and other stakeholders in the football community.
FIFA and Thrive representatives have been contacted for their comments on the matter. Notably, Saudi Arabia, the host nation for the 2034 World Cup, publicly expressed support for Infantino’s efforts to foster unity in global soccer amid the ongoing controversy. Infantino has established close relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure, and both have collaborated on various initiatives, including the hosting of the 2034 World Cup.
