UEFA is gearing up to lodge a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement related to his unsuccessful attempt to sell future World Cup profits to private investors. The move comes after UEFA filed legal documents in a Manhattan court seeking evidence from the New York investment firm, Thrive Capital Management, founded by Joshua Kushner. Additionally, UEFA has requested authorization for discovery in a southern Florida district concerning FIFA itself, which has offices in Coral Gables, a Miami suburb.
The proposed deal involved Thrive and Kushner as anchor investors who 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. UEFA’s legal representatives, as detailed in a 56-page document obtained by The Associated Press, are contemplating initiating 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 valuation could be an inflated figure designed to benefit Infantino personally.
Infantino abandoned the sell-off plan on August 1 following significant backlash from global soccer leaders, including UEFA. UEFA had previously warned FIFA on August 3 not to tamper with or conceal any pertinent materials related to the scheme. According to UEFA lawyers, Infantino’s claims that the plan would unlock FIFA’s commercial potential were misleading, as the real intention was 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 in the football community.
Efforts to obtain comments from FIFA and Thrive representatives are ongoing. On a different note, Saudi Arabia, slated to host the 2034 World Cup, publicly expressed support for Infantino on Thursday. The Saudi Arabian Football Federation (SAFF) stated via social media that it currently backs Infantino’s endeavors to foster global solidarity in soccer. Infantino has established strong ties with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure, facilitating the selection of the kingdom as the 2034 World Cup host. Both figures recently attended a Saudi-sponsored video gaming event in Paris together.