UEFA is preparing a criminal complaint against FIFA President Gianni Infantino in Swiss courts for possible financial mismanagement over his failed plan to sell future World Cup profits to private investors. 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 football body’s commercial events, including the World Cup.
UEFA said Thursday it filed documents in a Manhattan court requesting discovery of potential evidence from the New York investment fund, Thrive Capital Management, founded by Joshua Kushner. 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.
UEFA is preparing a criminal complaint against FIFA President Gianni Infantino in Swiss courts for possible financial mismanagement over his failed plan to sell future World Cup profits to private investors.
“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. The document suggests the $4.2 billion figure could be a “fraudulently off-market price promoted by Infantino for his own benefit.
“Infantino claimed that the plan would ‘unleash the commercial potential and opportunity that FIFA has,’” UEFA lawyers told the courts. “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.”
