UEFA Files Criminal Complaint Against FIFA President Infantino Over Failed World Cup Investment Plan
SCMP · 2 SOURCESabout 1 hour ago2 MIN
Summary
UEFA announced on Thursday that it is preparing a criminal complaint against FIFA President Gianni Infantino in Swiss courts for alleged financial mismanagement over his failed plan to sell future World Cup profits to private investors. The European football governing body filed court documents in Manhattan and southern Florida seeking discovery of evidence from New York investment fund Thrive Capital Management, founded by Joshua Kushner. Under the abandoned plan, Thrive and Kushner were to pay FIFA US$4.2 billion for a 20 percent stake in a subsidiary that would control commercial events including the World Cup. UEFA's lawyers stated in a 56-page document that they are contemplating proceedings against Infantino and possibly other FIFA officials under Article 158 of the Swiss Criminal Code. Infantino abandoned the plan on August 1 after intense criticism led by European football officials, with UEFA first threatening legal action on August 3.
Key Points
- Thrive Capital Management, founded by Joshua Kushner (brother of Jared Kushner), was the anchor investor in the proposed deal
- The plan would have given investors a 20 percent stake in FIFA's commercial arm for US$4.2 billion, implying an enormous valuation
- FIFA expects approximately US$5 billion in cash reserves after the North American World Cup boosted revenue to US$15 billion for 2023-26
- UEFA claims the US$4.2 billion price was "fraudulently off-market" and promoted by Infantino for personal benefit
- FIFA has offices in Coral Gables, a Miami suburb, prompting UEFA's Florida court filing
Why It Matters
This legal action represents the most serious challenge to Infantino's decade-long tenure as FIFA president and threatens to further fracture the already tense relationship between European and global football governance. The controversy raises fundamental questions about the stewardship of world football's most valuable asset and whether proper oversight mechanisms exist to prevent unilateral decisions that could affect hundreds of millions of stakeholders worldwide .
This legal action represents the most serious challenge to Infantino's decade-long tenure as FIFA president and threatens to further fracture the already tense relationship between European and global football governance. The controversy raises fundamental questions about the stewardship of world football's most valuable asset and whether proper oversight mechanisms exist to prevent unilateral decisions that could affect hundreds of millions of stakeholders worldwide .