UEFA is preparing a criminal complaint against FIFA president Gianni Infantino over alleged financial mismanagement linked to his failed $20 billion plan to sell a stake in the organization’s commercial operations.
The European football governing body is considering legal action over allegations that Infantino “fraudulently” offered a 20% stake in FIFA Forward Enterprise, FFE, without following due process or consulting FIFA’s governing hierarchy.
The proposed deal was valued at $4.2 billion, with New York-based investment firm Thrive Capital Management, founded by Joshua Kushner, expected to serve as the anchor investor.
UEFA said on Thursday that it had filed documents in a Manhattan court seeking access to potential evidence from Thrive Capital Management.
Thrive and Kushner were reportedly prepared to pay FIFA $4.2 billion for the stake in a subsidiary that would oversee the governing body’s commercial events, including the World Cup.
ESPN has seen the 60-page document, which was served on FIFA at its North American headquarters in Coral Gables, Florida, as well as on Thrive and JPMorgan in New York. Financier Greg Maffei, CEO of BANN Ventures, was also served the document at his base in Denver, Colorado.
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The parties have been ordered to provide documents and communications relating to the controversial FFE sell-off plan.
UEFA is now considering criminal proceedings in Switzerland, where FIFA is headquartered, following a review of the available evidence.
“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 said in the 60-page document.
The document further suggests that the $4.2 billion valuation could have been a “fraudulently off-market price” promoted by Infantino for his own benefit.
Infantino abandoned the sell-off plan on August 1 following strong opposition from football leaders around the world, including UEFA, the Asian Football Confederation and Concacaf.
UEFA withdrew its threat to boycott FIFA tournaments earlier this week after receiving assurances that there would be no future attempt to sell a stake in the not-for-profit global football governing body.
ESPN
