UEFA moves to lodge criminal complaint against Infantino over failed World Cup stake sale

The Union of European Football Associations (UEFA) is preparing a criminal complaint in Swiss courts against FIFA President Gianni Infantino, alleging mismanagement related to the abandoned plan to sell a 20 per cent stake in World Cup revenues. The legal action centres on the proposed sale to private investors, including Joshua Kushner’s Thrive Capital, for $4.2 billion. UEFA’s counsel has characterised this figure as a “fraudulently off-market price,” arguing it implies an “absurdly low” enterprise value of approximately $20 billion for the football body’s commercial assets.

According to a 56-page document seen by The Associated Press, UEFA and its lawyers are contemplating a Swiss criminal proceeding against Infantino and possibly other FIFA officials. The complaint cites Article 158 of the Swiss Criminal Code, which pertains to criminal mismanagement. UEFA asserts that the valuation was neither the product of an open, competitive auction nor tested by any independent valuer, suggesting the structure benefited Infantino and a small circle of associates at the expense of FIFA’s members.

To support its case, UEFA has filed discovery requests in United States courts to gather evidence from key parties involved in the transaction. The association filed documents in a Manhattan court requesting discovery of potential evidence from Thrive Capital Management, the New York investment fund founded by Kushner. Additionally, UEFA sought authorisation for discovery “in a foreign proceeding” in a southern Florida district court against FIFA, which maintains offices in the Miami suburb of Coral Gables.

The proposed deal, known as the FIFA Forward Enterprise, involved Thrive Capital and other investors paying $4.2 billion for a 20 per cent stake in a subsidiary intended to run FIFA’s commercial events, including the World Cup. UEFA’s lawyers argued that while Infantino claimed the plan would “unleash the commercial potential and opportunity that FIFA has,” it was in truth a vehicle for acquiring a permanent stake in FIFA’s most valuable assets. The association contends this move was to the detriment of FIFA, its members, and other parties within the football family.

Infantino abandoned the sell-off plan on 1 August following a furious backlash from global football leaders, including UEFA. The European body had previously threatened legal action on 3 August, warning FIFA against destroying or hiding any “relevant materials” related to the plan. The dispute has further strained the relationship between Infantino and UEFA President Aleksander Ceferin, with FIFA recently defending Infantino against allegations tied to his time at UEFA.

Spokespeople for FIFA and Thrive Capital have been approached for comment but had not responded at the time of reporting. The outcome of the discovery requests in the US courts remains to be seen, as does the final determination of whether the criminal complaint has been formally lodged or is still in the preparation stage.