The Union of European Football Associations (UEFA) has initiated proceedings to file a criminal complaint against FIFA President Gianni Infantino in Swiss courts, citing potential financial mismanagement related to his proposed sale of future World Cup revenues to private investors.
On Thursday, UEFA submitted court documents in Manhattan seeking access to evidence from Thrive Capital Management, the New York investment firm founded by Joshua Kushner, which was involved in the proposed transaction.
The football governing body also filed a request in a southern Florida district court authorizing discovery proceedings against FIFA, which maintains offices in Coral Gables, Miami.
Thrive Capital and Kushner were positioned as anchor investors to contribute $4.2 billion for a 20 percent stake in a proposed FIFA subsidiary managing the organization’s commercial operations, including the World Cup.
According to a 56-page legal document reviewed by The Associated Press, UEFA’s attorneys indicate the filing may pursue charges of criminal mismanagement against Infantino under Article 158 of the Swiss Criminal Code.
The complaint alleges the $4.2 billion valuation represented a “fraudulently off-market price” designed to benefit Infantino personally.
Infantino withdrew the proposed sale on August 1 following intense opposition from global football authorities, including UEFA.
On August 3, UEFA warned FIFA to preserve all “relevant materials” related to the transaction, threatening legal action if records were destroyed or concealed.
“Infantino asserted the deal would ‘unlock FIFA’s commercial potential,'” UEFA’s legal team wrote to the courts. “In reality, it served as a mechanism for Infantino and his close associates to secure permanent financial interests in FIFA’s most lucrative assets at the expense of the organization, its members, and the broader football community.” The proposal allocated a permanent share of commercial revenue to investors at an enterprise value of roughly $20 billion, a figure undermined by the absence of an open competitive bidding process or independent valuation assessment.
FIFA and Thrive Capital have been approached for official comment on the allegations.
(FRANCE 24 with AP)
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