UEFA is preparing a criminal complaint against FIFA President Gianni Infantino over his plan to sell a 20 per cent stake in the World Cup to private investors for $4.2bn, according to a legal document filed in a United States court.
The 56-page document, lodged by UEFA's lawyers in the United States District Court for the Southern District of New York, declares that UEFA is “preparing to bring criminal claims in Switzerland against Infantino” for “criminal mismanagement”.
UEFA Alleges 'Absurdly Low' Valuation in World Cup Stake Sale
The filing states that Infantino's hastily drawn-up plan to sell off a 20 per cent stake in the World Cup for $4.2bn represented “an absurdly low enterprise value”. It accuses the FIFA president of standing to gain financially in a process that was “neither the product of an open, competitive auction, nor tested by any independent valuer”.
The legal document, seen by Sky News, said: "UEFA and other interested parties are preparing to bring criminal claims in Switzerland against Infantino and possibly other FIFA officials and advisors for criminal mismanagement under Article 158 of the Swiss Criminal Code and such further or alternative charges as the developed factual record may support, arising out of the secretive structuring, valuation, financing, and marketing of a transaction that inflicted direct and concrete injury on FIFA's reputation, governance authority, and commercial relationships to the detriment of FIFA as well as its 211 members, including UEFA's 55 member associations."
UEFA Targets JP Morgan, Thrive Capital, and Joshua Kushner
The application was lodged by UEFA against JP Morgan Bank, as well as planned lead investor Thrive Capital and its CEO, Joshua Kushner, who is the brother of Donald Trump's son-in-law Jared Kushner. UEFA is targeting FIFA through courts in Miami, where the world body's legal team is based.
Impact of the Legal Challenge
The legal action, which could lead to criminal proceedings in Switzerland, directly challenges the governance and transparency of FIFA's commercial dealings. The outcome may affect future FIFA investment plans and the relationship between FIFA and its member associations, including UEFA's 55 member bodies.
