UEFA is gearing up to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts due to potential financial mismanagement related to his failed proposal to sell future World Cup profits to private investors. The European soccer body has submitted legal documents in a Manhattan court to request access to potential evidence from Thrive Capital Management, a New York investment fund founded by Joshua Kushner.
Additionally, UEFA has initiated a request in a southern Florida district to seek authorization for discovery related to FIFA, which houses its offices in Coral Gables, Miami. The plan involved Thrive Capital Management and Joshua Kushner as principal investors, aiming to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing FIFA’s commercial events, including the prestigious World Cup tournament.
A 56-page document reviewed by The Associated Press reveals that UEFA and its legal team are weighing a potential Swiss criminal proceeding against Infantino and potentially other FIFA officials for alleged criminal mismanagement under Article 158 of the Swiss Criminal Code. The document suggests that the $4.2 billion valuation could be an artificially inflated price promoted by Infantino for personal gain.
Infantino abandoned the sell-off initiative on August 1 following strong opposition from global soccer leaders, including UEFA, and threats of legal action. UEFA’s lawyers argued that Infantino’s plan, disguised as a strategy to unlock FIFA’s commercial potential, was primarily designed to benefit him and a select group at the expense of FIFA, its members, and other stakeholders in the football community.
Efforts to obtain comments from FIFA and Thrive representatives regarding the situation are underway. On the same day, Infantino received public support from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation expressed its backing for Infantino’s endeavors to foster unity in global soccer. Infantino’s longstanding relationship with Saudi Arabia and Crown Prince Mohammed bin Salman, along with his involvement in steering the 2034 World Cup to the kingdom, has been highlighted amid the ongoing developments.
