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 unsuccessful proposal to sell future World Cup profits to private investors. The European soccer governing body disclosed that it has submitted legal documents in a Manhattan court to request the discovery of potential evidence from Thrive Capital Management, a New York investment fund established by Joshua Kushner.
Additionally, UEFA has also made a request in a southern Florida district to seek authorization for discovery in a foreign proceeding against FIFA itself, which operates from offices in Coral Gables, a suburb of Miami. Thrive Capital Management and Joshua Kushner were slated to be the principal investors looking to pay FIFA $4.2 billion for a 20% stake in a subsidiary responsible for managing FIFA’s commercial events, including the World Cup.
Legal representatives for UEFA mentioned in a 56-page document obtained by The Associated Press that they are considering initiating a Swiss criminal proceeding against Infantino and potentially other FIFA officials for potential criminal mismanagement under Article 158 of the Swiss Criminal Code. The document implies that the proposed $4.2 billion valuation could have been a “fraudulently off-market price promoted by Infantino for his own benefit.”
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, cautioning FIFA against tampering with or concealing any pertinent materials linked to the plan. According to UEFA’s legal team, Infantino touted the plan as a means to “unleash the commercial potential and opportunity that FIFA has,” but in reality, it was a scheme for Infantino and a select group to gain a lasting stake in and profit from FIFA’s most valuable assets to the detriment of FIFA, its members, and other entities within the football community.
Representatives from FIFA and Thrive have been contacted for their comments. Notably, on a recent occasion, Infantino received public support from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) expressed its backing for Infantino’s initiatives aimed at restoring global unity in soccer. Infantino has cultivated strong relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a role in directing the 2034 World Cup towards the kingdom. Both figures attended a Saudi-backed video gaming event in Paris together.