UEFA is gearing up to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement related to his abandoned proposal to sell future World Cup profits to private investors. The European soccer governing body disclosed on Thursday that it submitted documentation in a Manhattan court seeking evidence from the New York-based investment firm Thrive Capital Management, founded by Joshua Kushner. Additionally, UEFA lodged a request in a southern Florida district for permission to gather evidence in a foreign proceeding against FIFA, which has offices in Coral Gables, a Miami suburb.
Thrive Capital and Kushner were expected to be the primary investors to pay FIFA $4.2 billion for a 20% stake in a subsidiary tasked with managing the organization’s commercial events, including the World Cup. UEFA’s legal representatives mentioned in a 56-page document that they 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 also suggested that the $4.2 billion valuation could be an inflated price promoted by Infantino for personal gain.
Infantino shelved the sell-off plan on August 1 after facing strong opposition from global soccer leaders, including UEFA. The latter had issued a warning to FIFA on August 3 against tampering with or concealing any relevant materials linked to the proposal. UEFA’s lawyers described Infantino’s plan as a means for him and a select group to secure a permanent stake in and profit from FIFA’s valuable assets, to the detriment of FIFA, its members, and other entities in the football community.
Representatives of FIFA and Thrive are yet to comment on the matter. However, earlier on Thursday, Infantino received public support from Saudi Arabia, the host nation of the 2034 World Cup. The Saudi Arabian Football Federation (SAFF) expressed its backing for Infantino’s efforts to promote global unity in soccer. Infantino has forged strong relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a key role in steering the 2034 World Cup towards the kingdom. Both parties recently attended a Saudi-sponsored video gaming event in Paris.