UEFA prepares criminal complaint in Swiss courts against FIFA’s Infantino over World Cup sell-off

MONACO (AP) — UEFA is preparing a criminal complaint against FIFA President Gianni Infantino in Swiss courts for possible financial mismanagement over his failed plan to sell future World Cup profits to private investors.

The governing body of European football announced its intentions in court documents filed Thursday in the US, seeking access to possible evidence related to the sell-off plan, which was withdrawn after a furious backlash by UEFA and other global soccer leaders.

The move increases the pressure on Infantino, who is facing the biggest crisis in his 10 years as FIFA’s leader.

UEFA filed documents in a Manhattan court requesting discovery of potential evidence from the New York investment fund, Thrive Capital Management, founded by Josh Kushner — the younger brother of President Donald Trump’s son-in-law Jared Kushner.

UEFA also filed a request in a southern Florida district for authorization of discovery “in a foreign proceeding” against FIFA itself, which has offices in the Miami suburb of Coral Gables.

Under the plan revealed in late July, Thrive and Kushner were to be the anchor investors intending to pay FIFA $4.2 billion for a 20% stake in a subsidiary that would run the soccer body’s commercial events, including the World Cup.

“UEFA and its counsel are contemplating a Swiss criminal proceeding against Infantino and possibly other FIFA officials for criminal mismanagement under Article 158 of the Swiss Criminal Code,” UEFA’s lawyers state in a 56-page document seen by The Associated Press.

The document suggests the $4.2 billion figure could be a “fraudulently off-market price promoted by Infantino for his own benefit.”

FIFA is expected to have about $5 billion in cash reserves after the World Cup in North America boosted its revenue to a record $15 billion over the 2023-26 commercial cycle.

“The question is therefore why the FIFA president believed he needed outside investors to expand development funding,” UEFA said in a statement.

Infantino dropped the sell-off plan on August 1 after intense criticism led by soccer officials in Europe.

UEFA first threatened to take legal action on August 3 when it warned FIFA against destroying or hiding any “relevant materials” related to the plan. Thursday’s legal move was revealed to its member federations in Monaco just two hours before the Champions League draw began.

“Infantino claimed that the plan would ‘unleash the commercial potential and opportunity that FIFA has,’” UEFA lawyers told the courts.

“In truth, it was a vehicle for Infantino and that small circle to acquire a permanent stake in and otherwise profit from FIFA’s most valuable assets to the detriment of FIFA, its members, and other parties within the football family.

“Under the terms Infantino announced, those investors stood to acquire a permanent financial interest in FIFA’s commercial arm for $4.2 billion, implying an absurdly low enterprise value of only approximately $20 billion, a figure that was neither the product of an open, competitive auction, nor tested by any independent valuer.”

Thrive declined to comment.

FIFA was approached for comment.

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