UEFA Targets Infantino Over Abandoned FIFA Revenue Deal

UEFA is preparing a criminal complaint in Switzerland against FIFA president Gianni Infantino over a failed proposal to sell private investors a stake in FIFA’s future World Cup profits. The European soccer body is examining whether Infantino and possibly other FIFA officials committed criminal mismanagement under Article 158 of the Swiss Criminal Code. The proposed deal would have involved New York investment fund Thrive Capital Management, founded by Joshua Kushner, paying FIFA $4.2 billion for a 20 per cent stake in a subsidiary responsible for FIFA’s commercial events, including the World Cup. UEFA argues that the price implied an unusually low valuation for FIFA’s commercial assets and was not established through an open auction or independent valuation. Its lawyers suggested in court documents that the deal may have been structured for Infantino’s personal benefit and could have allowed a small group to obtain a permanent financial interest in FIFA’s most valuable properties. UEFA has filed documents in a Manhattan court seeking evidence from Thrive and submitted a request in southern Florida for permission to seek discovery from FIFA, whose offices are located near Miami. The legal efforts follow Infantino’s decision on Aug. 1 to abandon the plan after strong opposition from soccer leaders. UEFA had previously warned FIFA not to destroy or conceal materials related to the proposal. FIFA and Thrive had not responded to requests for comment at the time of publication. Despite the growing controversy, Infantino received public support from Saudi Arabia, the host of the 2034 World Cup. The Saudi Arabian Football Federation said it supported his efforts to restore unity in global soccer. The article notes Infantino’s close political and soccer ties to Saudi Crown Prince Mohammed bin Salman and his role in steering the 2034 tournament to Saudi Arabia.

UEFA is seeking permission from U.S. courts to obtain testimony and documents from FIFA-related entities and a New York investment fund as it prepares a possible criminal complaint against FIFA President Gianni Infantino in Switzerland. The complaint would concern alleged criminal mismanagement connected to Infantino’s abandoned proposal to sell a stake in FIFA’s future commercial revenues to private investors. The plan would have transferred commercial rights connected to the men’s and women’s World Cups and the Club World Cup to a new subsidiary, FIFA Forward Enterprise. Thrive Capital Management, founded by Joshua Kushner, and Kushner were expected to serve as anchor investors, paying $4.2 billion for a 20% stake in the entity. UEFA’s lawyers argue that the price implied an unjustifiably low valuation and may have been arranged to benefit Infantino and a small group of associates. UEFA filed a request in a federal court in southern Florida, where FIFA has offices, seeking discovery for use in a foreign proceeding. It also asked a Manhattan court to authorize discovery from Thrive Capital. The organization’s court filing says it is considering criminal proceedings against Infantino and possibly other FIFA officials under Article 158 of the Swiss Criminal Code. UEFA strongly opposed the proposal, threatening to boycott FIFA competitions, including the next men’s World Cup. Infantino abandoned the plan on Aug. 1 after opposition from UEFA, North America’s soccer body and Asia’s soccer body, as well as the resignation of a senior adviser who served on a White House panel. UEFA had earlier accused FIFA of potentially concealing or destroying relevant records. The dispute also drew attention to Infantino’s close relationship with President Trump and to Kushner’s broader business connections. FIFA and Thrive Capital had not responded to requests for comment when the article was published.

UEFA has escalated its campaign against FIFA President Gianni Infantino by seeking authorization from a US federal court to obtain testimony and documents related to the failed FIFA Forward Enterprise (FFE) plan. The proposed subsidiary was intended to sell a stake in FIFA’s commercial rights connected to the men’s and women’s World Cups and the Club World Cup. According to a 56-page court filing cited by several news agencies, UEFA’s lawyers said they were considering filing a criminal complaint in Switzerland against Infantino and potentially other FIFA officials for alleged criminal mismanagement under Article 158 of the Swiss Criminal Code. UEFA claims that Infantino developed the FFE proposal secretly with a limited group of advisers and investors, bypassing FIFA’s standard governance procedures and failing to consult the FIFA Council. The European governing body also alleges that the plan substantially undervalued FIFA’s commercial rights. It says the proposed valuation was neither subjected to an open auction nor independently assessed. UEFA is seeking documents and communications concerning the plan’s development, valuation, governance and internal approval. The requested records include materials presented to FIFA’s Council, Congress, Bureau and Management Board. The filing reportedly seeks information about a meeting at a New York City hotel held on the eve of the World Cup final, when senior FIFA directors were briefed on the proposal. The New York Times reported that two of the five directors present declined to support it, including former FIFA chief operating officer Kevin Lamour. UEFA intends to use any documents obtained in a potential Swiss complaint, since both UEFA and FIFA are based in Switzerland. FIFA has not responded to the legal action. Although FIFA abandoned the FFE plan amid opposition from UEFA, the Asian Football Confederation and CONCACAF, pressure on Infantino has continued. The dispute follows UEFA’s reported decision to withdraw a threat to boycott FIFA tournaments.

UEFA is preparing to pursue a criminal complaint in Switzerland against FIFA president Gianni Infantino over a failed proposal to sell private investors a stake in FIFA’s future World Cup-related revenues. The plan involved selling a 20% interest in a subsidiary managing FIFA’s commercial events, including the World Cup, for $4.2 billion. Thrive Capital Management, the New York investment fund founded by Joshua Kushner, was expected to serve as an anchor investor. UEFA alleges that the proposed valuation was not established through an open auction or independent assessment and describes the price as potentially “fraudulently off-market.” In a 56-page court document, UEFA lawyers said they were considering proceedings against Infantino and possibly other FIFA officials for criminal mismanagement under Article 158 of the Swiss Criminal Code. They further alleged that the plan could have allowed Infantino and a small group of associates to obtain a permanent financial interest in FIFA’s commercial assets, to the detriment of FIFA, its members and the wider football community. To gather evidence, UEFA said it filed a discovery request in a Manhattan court targeting Thrive Capital. It also sought authorisation from a federal court in southern Florida to obtain evidence from FIFA, whose offices are located in Coral Gables. Infantino abandoned the sell-off proposal on August 1 following strong opposition from football leaders, including UEFA. The organisation had warned FIFA on August 3 not to destroy or conceal documents connected to the plan. FIFA and Thrive Capital were contacted for comment but had not responded at the time of publication. The potential Swiss criminal complaint remains under consideration and has not been presented as a completed prosecution.