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European soccer's governing body, UEFA, is reportedly preparing to file a criminal complaint against FIFA President Gianni Infantino in Switzerland. According to ESPN, the complaint alleges financial mismanagement by Infantino over a failed plan to sell a 20% stake in the World Cup.
UEFA filed documents in a New York City court to request discovery of potential evidence from Thrive Capital Management, JPMorgan, and FIFA itself. Thrive Capital, founded by Joshua Kushner, was set to be the anchor investor, intending to pay FIFA $4.2 billion for the stake in FIFA Forward Enterprise (FFE), a subsidiary managing FIFA's commercial events, including the World Cup.
The 60-page document outlining UEFA's position was delivered to FIFA's North America headquarters in Coral Gables, Florida, and to Thrive and JPMorgan in New York. Financier Greg Maffei, CEO of BANN Ventures, also received the document in Denver, Colorado. All parties have been ordered to provide documentation and communication related to the FFE sell-off plan.
UEFA is contemplating criminal proceedings in Switzerland, where FIFA's main headquarters is located, under Article 158 of the Swiss Criminal Code. The document suggests that the $4.2 billion figure may have been a "fraudulently off-market price" promoted by Infantino for personal gain.
Infantino abandoned the sell-off plan on August 1 after facing backlash from global football leaders, including UEFA, the Asian Football Confederation (AFC), and Concacaf. UEFA recently withdrew its threat to boycott all FIFA tournaments after receiving assurances that there would be no future attempts to sell a stake in the not-for-profit global body.