UEFA is set to file a criminal complaint against FIFA president Gianni Infantino in Swiss courts regarding potential financial mismanagement related to his abandoned proposal to sell future World Cup profits to private investors. The European soccer governing body announced on Thursday that it has submitted legal documents in a Manhattan court seeking evidence from the New York-based investment firm, Thrive Capital Management, founded by Joshua Kushner.
In addition to this, UEFA has also made a request in a southern Florida district for authorization to gather evidence in a foreign proceeding against FIFA, which has its offices located in Coral Gables, a Miami suburb. Thrive Capital Management and Joshua Kushner were identified as the lead investors planning to pay FIFA $4.2 billion for a 20% ownership stake in a subsidiary responsible for managing the soccer organization’s commercial events, including the prestigious World Cup.
According to a 56-page document reviewed by The Associated Press, UEFA and its legal representatives are contemplating initiating a Swiss criminal procedure against Infantino and potentially other FIFA officials for alleged criminal mismanagement under Article 158 of the Swiss Criminal Code. The document suggests that the proposed $4.2 billion deal could have been an inflated price aimed at benefiting Infantino personally.
The controversial sell-off plan was abandoned by Infantino on August 1 following strong opposition from global soccer leaders, including UEFA. The legal counsel representing UEFA highlighted that the plan was portrayed by Infantino as a means to unlock FIFA’s commercial potential but was actually designed to benefit a select group, including Infantino himself, at the expense of FIFA, its members, and other stakeholders in the football community.
FIFA and Thrive Capital Management have been contacted for comments on the matter. Notably, on the same day, Infantino received support from Saudi Arabia, the host nation for the 2034 World Cup. The Saudi Arabian Football Federation expressed its backing for Infantino’s efforts to foster unity in global soccer at the present time. Infantino has cultivated strong relationships with Saudi Arabia and Crown Prince Mohammed bin Salman during his tenure and played a role in steering the 2034 World Cup towards the kingdom. Both Infantino and the Crown Prince attended a video gaming event supported by Saudi Arabia in Paris over the weekend.
