European football’s governing body, UEFA, is preparing a criminal complaint against FIFA President Gianni Infantino over his abandoned plan to sell a stake in the organisation’s World Cup-related commercial rights to private investors.
The planned legal action marks a major escalation in the increasingly bitter dispute between UEFA and FIFA over Infantino’s proposed restructuring of the organisation’s commercial operations.
According to legal filings in the United States, UEFA is seeking documents from Thrive Capital, the investment firm founded by Joshua Kushner, which had been positioned as the leading investor in the proposed transaction. Kushner is the younger brother of Jared Kushner, son-in-law of US President Donald Trump.
UEFA said in its US court filing that it was preparing to pursue criminal claims in Switzerland against Infantino and potentially other FIFA officials and advisers for alleged criminal mismanagement.
The European body is seeking access to documents and other evidence concerning the development, valuation, financing and marketing of the proposed transaction. The legal proceedings in the US are intended to help UEFA obtain information that could be used in potential proceedings in Switzerland.
Controversial FIFA Forward Enterprise
The dispute centres on FIFA’s plan to establish a new commercial entity, FIFA Forward Enterprise, which would have housed major revenue-generating activities, including broadcasting, sponsorship and other commercial rights linked to FIFA competitions.
The proposal envisaged raising about $4.2 billion from private investors in exchange for roughly 20% of the new entity, based on a valuation of about $20 billion. Thrive Eternal, the investment vehicle associated with Joshua Kushner, was expected to be a major investor.
Infantino abandoned the proposal in early August following intense opposition from football governing bodies. UEFA had threatened a boycott of FIFA competitions, while CONCACAF and the Asian Football Confederation also rejected the plan.
The controversy has nevertheless continued after the withdrawal. UEFA has questioned how FIFA arrived at the proposed $20 billion valuation and whether the commercial assets were being offered to investors at an artificially low price. FIFA generated about $15 billion in revenue during the 2023–2026 commercial cycle associated with the latest World Cup.
