2 hrs ago
FIFA Calls UEFA Court Action Smear Campaign Over Failed Plan
FIFA proposed selling private investors parts of the World Cup and other competitions.
The plan could have raised $4.2 billion.
Many people in European football opposed the idea, so FIFA withdrew it on August 1.
UEFA is now asking American courts for documents about how the proposal was developed.
UEFA says the plan could have benefited Gianni Infantino and a small group of people.
FIFA says UEFA is using the court cases to spread unfair claims.
FIFA also says UEFA cannot seek evidence for a foreign criminal case that has not begun.
The disagreement could lead to a possible complaint in Swiss courts.
FIFA accused UEFA of conducting a smear campaign over Gianni Infantino’s failed investment proposal.
The FIFA Forward Enterprise plan sought $4.2 billion by selling stakes in World Cup and other competition assets.
FIFA withdrew the proposal on August 1 after intense opposition.
UEFA asked courts in New York, Florida, and Colorado to obtain documents from advisers and other parties.
UEFA is preparing a possible Swiss criminal complaint alleging financial mismanagement, while FIFA disputes the legal basis for the discovery requests.
- Who
- FIFA, UEFA, FIFA President Gianni Infantino, Josh Kushner’s Thrive Capital Management, and other advisers and parties involved in the proposal.
- What
- A legal dispute over FIFA’s withdrawn plan to sell stakes in World Cup and other competition assets.
- Where
- The discovery requests were filed in federal courts in Colorado, New York, and Florida; UEFA is considering action in Swiss courts.
- When
- FIFA filed its response on Thursday; the investment proposal was withdrawn on August 1.
- Why
- UEFA seeks evidence for its allegations concerning the proposal, while FIFA says UEFA’s court actions are a smear campaign and lack a valid legal basis.
FIFA’s Position
UEFA’s Position
Purpose of the investment plan
FIFA’s Position
FIFA presented the proposal as a way to unlock the commercial potential of its competitions.
UEFA’s Position
UEFA argues that the proposal could have enabled Gianni Infantino and a small group to acquire permanent stakes in, and profit from, FIFA’s most valuable assets.
Court discovery requests
FIFA’s Position
FIFA says UEFA is seeking discovery for a foreign criminal proceeding that does not exist and that UEFA lacks authority to initiate.
UEFA’s Position
UEFA is seeking documents from Josh Kushner, Thrive Capital Management, and advisers to investigate the proposal and support possible legal action.
Conduct surrounding the proposal
FIFA’s Position
FIFA accuses UEFA of coercing European football federations to oppose the plan and describes the court action as a smear campaign.
UEFA’s Position
UEFA says the proposal was detrimental to FIFA, its members, and other participants in the football community.
Key facts
- Proposed plan
- FIFA Forward Enterprise, or FFE, sought to sell stakes in the World Cup and other competitions.
- Proposed value
- $4.2 billion
- Withdrawal date
- August 1
- FIFA’s accusation
- UEFA’s court filings are part of a smear campaign against FIFA and its leadership.
- UEFA’s allegations
- UEFA says the proposal could have allowed Infantino and a small circle to profit from FIFA assets.
- Discovery locations
- Federal courts in Colorado, New York, and Florida
- Possible further action
- UEFA is preparing a possible criminal complaint in Swiss courts over alleged financial mismanagement.
Quotes
UEFA lawyers
Legal representatives of European football’s governing body
“In truth, it was a vehicle for Infantino and that small circle to acquire a permanent stake in and otherwise profit from FIFA’s most valuable assets to the detriment of FIFA, its members, and other parties within the football family.”
livemint.com
“While these applications are styled as legal pleadings with captions and docket numbers, they are little more than press releases in further support of UEFA’s smear campaign against FIFA and its leadership.”
livemint.com
Josh Kushner
Investor and head of Thrive Capital Management
“While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football, and the lengths some would go to. Thrive has a long track record of being a partner to all constituents. Had we known what this would devolve into, we would not have gotten involved.”
livemint.com
Sources
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