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

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.

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.

Infantino dropped the sell-off plan on Aug. 1 after a furious backlash by global soccer leaders, including UEFA.

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.

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.