UEFA is gearing up to lodge a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement in connection with his unsuccessful proposal to sell future World Cup profits to private investors. The European soccer body disclosed on Thursday that it had submitted paperwork in a Manhattan court to seek evidence from the New York investment firm, Thrive Capital Management, established by Joshua Kushner.
Additionally, UEFA filed a request in a southern Florida district for permission to obtain evidence related to a “foreign proceeding” against FIFA itself, which maintains offices in the Miami suburb of Coral Gables. Thrive Capital Management and Joshua Kushner were lined up as key investors planning to pay FIFA $4.2 billion for a 20 percent stake in a subsidiary responsible for overseeing the soccer governing body’s commercial events, including the World Cup.
In a 56-page document reviewed by The Associated Press, UEFA’s legal team indicated that they are contemplating a Swiss criminal proceeding against Infantino and potentially other FIFA officials for criminal mismanagement as per Article 158 of the Swiss Criminal Code. The document suggested that the $4.2 billion valuation could be an “off-market price fraudulently promoted by Infantino for personal gain.”
Infantino abandoned the sell-off proposal on August 1 following strong opposition from global soccer leaders, including UEFA. UEFA had initially threatened legal action on August 3 by cautioning FIFA against tampering with or concealing any relevant materials linked to the plan. According to UEFA lawyers, Infantino portrayed the plan as a means to unlock FIFA’s commercial potential, but in reality, it was a scheme benefiting him and a select few to gain a lasting stake in and profit from FIFA’s most valuable assets at the expense of FIFA, its members, and other stakeholders in the football community.
Representatives for FIFA and Thrive have been requested to provide comments on the matter. Earlier on Thursday, Infantino received public support from Saudi Arabia, the host of the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) expressed its current backing for Infantino’s efforts to restore harmony in global soccer. Infantino has cultivated close relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a role in directing the 2034 World Cup to the kingdom. Both individuals were present at a Saudi-sponsored video gaming event in Paris over the weekend.
