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

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 Aug. 1 after intense criticism led by soccer officials in Europe.

UEFA had warned against destroying potential evidence

UEFA first threatened to take legal action on Aug. 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.

Swiss prosecutors’ poor results in FIFA trials

It was unclear if UEFA would send a potential criminal complaint to the Swiss federal prosecution office in Bern or to local prosecutors in FIFA’s home city Zurich.

The Swiss attorney general’s office has a poor record in recent years prosecuting cases of alleged corruption linked to FIFA and soccer officials.

Former FIFA president Sepp Blatter, former UEFA president Michel Platini and the influential Qatari president of Champions League title holder Paris Saint-Germain, Nasser al-Khelaïfi, all were acquitted twice at trials in Switzerland.

UEFA committed to replacing Infantino

The crisis has raised questions about Infantino’s future. Just months ago, he was widely expected to win another four-year term in the FIFA election set for March 2027, but a growing number of soccer federations around the world but mainly in Europe have withdrawn their support, with some joining UEFA in calling on him to step down, ideally before the Nov. 18 deadline for candidates.

“Should the current FIFA president nevertheless seek another mandate, UEFA will join forces with its partner confederations to ensure that member associations are offered a credible alternative,” the European body said, “one committed to integrity, accountability, development and genuine institutional change.”

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See AP’s full soccer coverage here

Graham Dunbar, The Associated Press

by The Canadian Press

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

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