UEFA Threatens Criminal Proceedings Against FIFA President Infantino

The proceedings relate to a scrapped plan to sell stakes in the World Cup and other competitions to private investors. UEFA's lawyers claim this move valued the tournament at an 'absurdly low enterprise value'.

UEFA claims Infantino may have come up with a 'fraudulently off-market price' promoted 'for his own benefit'. Infantino, purportedly acting on behalf of FIFA, announced the plan without consulting the FIFA Council, UEFA, other confederations, or any of the 211 FIFA member associations.

The announcement reportedly unveiled a plan Infantino and a small circle of co-conspirators had conceived and developed in secret for more than a year. The plan involved investor Joshua Kushner, whose firm, Thrive Capital Management, was intended to be the anchor investor.

Thrive Capital Management was reportedly set to pay FIFA $4.2 billion for a 20% stake in a subsidiary that would run FIFA's commercial events. UEFA filed documents in a Manhattan court, requesting discovery of potential evidence from Thrive Capital Management.

Thrive Capital Management declined to comment when approached. Infantino reportedly stood to gain financially in a process that was 'neither the product of an open, competitive auction, nor tested by any independent valuer'.

UEFA claims Infantino and others stood to gain financially from the process, which lacked an open, competitive auction or independent valuation. This directly damaged the commercial and reputational interests of UEFA and its 55 members.

Infantino and a small circle reportedly planned to acquire a permanent stake and profit from FIFA's most valuable assets. This would be to the detriment of FIFA, its members, and other parties within the football family.

Separately, UEFA has made applications in the United States for information, including from FIFA, utilising a section 1782 order. The legal move was revealed to UEFA member federations in Monaco before the Champions League draw.

FIFA was approached for comment regarding the allegations. Despite these escalating tensions, UEFA withdrew its plans to boycott FIFA tournaments after receiving assurances from Infantino that there will be no repeat of the sell-off.

Infantino is up for re-election next year. 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.

UEFA and its counsel are contemplating a Swiss criminal proceeding against Infantino and possibly other FIFA officials. This would be for criminal mismanagement under Article 158 of the Swiss Criminal Code.