UEFA is taking legal action against FIFA president Gianni Infantino in Swiss courts for potential financial mismanagement related to his proposal to sell future World Cup profits to private investors. The European soccer governing body has submitted court documents in Manhattan seeking evidence from the New York-based investment firm, Thrive Capital Management, established by Joshua Kushner.
Additionally, UEFA has made a request in a southern Florida district to gather evidence in connection with a foreign proceeding against FIFA, which has offices in Coral Gables. The proposed deal involved Thrive and Kushner as anchor investors planning to pay FIFA $4.2 billion for a 20% share in a subsidiary managing FIFA’s commercial events, including the World Cup.
According to a 56-page document reviewed by The Associated Press, UEFA and its legal team are considering pursuing a criminal case in Switzerland against Infantino and potentially other FIFA officials for alleged criminal mismanagement as per Article 158 of the Swiss Criminal Code. The document questions the $4.2 billion valuation, suggesting it may have been inflated for Infantino’s personal gain.
Infantino abandoned the sell-off initiative on August 1 following strong opposition from global soccer leaders, including UEFA. UEFA had warned FIFA on August 3 against tampering with or concealing any pertinent documents related to the plan. UEFA’s lawyers claim that Infantino’s proposal was not about enhancing FIFA’s commercial potential as stated but rather a scheme to benefit a select group, including himself, at the expense of FIFA and its affiliates.
Both FIFA and Thrive representatives have been requested to provide comments on the matter. Earlier, Saudi Arabia, the host nation for the 2034 World Cup, publicly expressed support for Infantino’s endeavors to unify global soccer. Infantino has cultivated close relationships with Saudi Arabia and its Crown Prince Mohammed bin Salman during his tenure and played a role in guiding the 2034 World Cup bid towards the kingdom. The recent show of support comes amidst escalating scrutiny surrounding Infantino’s leadership and business dealings.