European football's governing body, UEFA, is preparing a criminal complaint against FIFA President Gianni Infantino concerning his failed proposal to sell commercial stakes in the World Cup to private investors.

UEFA has filed applications in federal courts in New York and Florida to obtain information related to the "FIFA Forward Enterprise" proposal. This information is intended for use in legal proceedings in Switzerland, where FIFA is headquartered.

According to court documents seen by ABC Australia News, UEFA plans to bring criminal charges against Infantino and possibly other FIFA officials and advisers for criminal mismanagement under Article 158 of the Swiss Criminal Code. The filings allege that Infantino and a small group of advisers secretly prepared the controversial privatization scheme over more than a year.

The documents claim that the secretive structuring, valuation, financing, and marketing of the plan caused direct harm to FIFA's reputation, governance, and commercial relationships, negatively impacting FIFA and its 211 member associations, including UEFA's 55 members.

UEFA's lawyers further contend that the stakes offered to private investors were "absurdly low" and lacked independent valuation. Under Infantino's announced terms, investors would acquire a permanent financial interest in FIFA's commercial arm for $US4.2 billion (approximately $5.84 billion AUD), implying an enterprise value of only about $US20 billion. This valuation was neither the result of an open, competitive auction nor independently tested.

The FIFA Forward proposal was publicly announced by Infantino on July 28, naming Thrive Eternal—an investment vehicle affiliated with Thrive Capital—as the lead private backer.

UEFA member nations have issued a joint press release demanding an independent investigation into the formation of the scheme, stating that the trust required to hold the office of FIFA President has been broken and cannot be restored by withdrawing the proposal or issuing assurances after the fact.

Sources