Sports News | UEFA Prepares Criminal Complaint Against FIFA President Gianni Infantino: Report
Get latest articles and stories on Sports at LatestLY. European football's governing body UEFA is preparing a criminal complaint against FIFA president Gianni Infantino in Swiss courts over alleged financial mismanagement linked to a failed plan to sell a stake in FIFA's commercial subsidiary, according to a report by ESPN.
New Delhi [India], August 27 (ANI): European football's governing body UEFA is preparing a criminal complaint against FIFA president Gianni Infantino in Swiss courts over alleged financial mismanagement linked to a failed plan to sell a stake in FIFA's commercial subsidiary, according to a report by ESPN.
The complaint reportedly relates to FIFA's proposed USD20 billion plan to sell a stake in FIFA Forward Enterprise (FFE), with UEFA alleging that the process was carried out without proper consultation and due process within FIFA's hierarchy.
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UEFA on Thursday filed documents in a Manhattan court seeking access to potential evidence from New York-based investment firm Thrive Capital Management, founded by Joshua Kushner.
Thrive Capital and Kushner were reportedly among the key investors involved in the proposed deal, which would have seen FIFA receive USD 4.2 billion in exchange for a 20 per cent stake in a subsidiary responsible for managing FIFA's commercial events, including the FIFA World Cup.
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According to ESPN, UEFA has submitted a 60-page document outlining its concerns and requests for information. The documents were delivered to FIFA's North American headquarters in Coral Gables, Florida, as well as to Thrive Capital and JPMorgan in New York.
Financier Greg Maffei, CEO of BANN Ventures, has also reportedly received the document at his office in Denver, Colorado.
The parties involved have been asked to provide documents and communications related to the proposed FFE deal. UEFA is now considering further legal action in Switzerland, where FIFA is headquartered in Nyon, following a review of the available information.
"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 the 60-page document, as quoted by ESPN.
The document reportedly suggests that the proposed USD 4.2 billion valuation may have been a "fraudulently off-market price promoted by Infantino for his own benefit."
The FIFA President abandoned the stake-sale proposal on August 1 following strong opposition from football authorities worldwide, including UEFA, the Asian Football Confederation (AFC) and Concacaf, according to ESPN.
Earlier this week, UEFA withdrew its threat to boycott FIFA competitions after receiving assurances that FIFA would not make any future attempts to sell a stake in the organisation. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)