UEFA is preparing to file a criminal complaint against FIFA President Gianni Infantino in Swiss courts for potential financial mismanagement related to his unsuccessful proposal to sell future World Cup revenues to private investors. The European soccer body disclosed on Thursday that it had submitted legal documents in a Manhattan court to seek evidence from the New York investment firm, Thrive Capital Management, founded by Joshua Kushner.
In addition, UEFA has lodged a request in a southern Florida district to obtain authorization for discovery in connection with a “foreign proceeding” against FIFA itself, which has offices in Coral Gables, a Miami suburb. Thrive Capital Management and Joshua Kushner were set to be the lead investors planning to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing the organization’s commercial activities, including the World Cup.
According to a 56-page document obtained by The Associated Press, UEFA and its legal team are considering pursuing a criminal case in Switzerland 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 have been an inflated price advocated by Infantino for his personal benefit.
Infantino abandoned the sell-off initiative on August 1 following strong opposition from global soccer leaders, including UEFA. UEFA had initially threatened legal action on August 3, cautioning FIFA against tampering with or concealing any pertinent materials linked to the proposal.
In the court document, UEFA lawyers allege that Infantino’s proposal was not aimed at maximizing FIFA’s commercial prospects as claimed but rather served as a means for Infantino and a select group to gain a lasting financial interest in FIFA’s most valuable assets to the detriment of FIFA, its members, and other stakeholders in the football community.
Representatives for FIFA and Thrive have been contacted for their comments on the matter. Earlier on Thursday, Infantino received public support from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) expressed its current backing for Infantino’s efforts to foster global unity in soccer through a statement posted on social media.
Infantino has established close relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure as FIFA president and played a role in directing the 2034 World Cup towards the kingdom. Both individuals recently attended a video gaming event in Paris sponsored by Saudi Arabia.