Infantino faces legal threat from UEFA

European football's governing body UEFA is preparing to file criminal charges against FIFA President Gianni Infantino for financial mismanagement. 

The dispute stems from a plan to sell a 20 per cent stake in FIFA Forward Enterprises (FFE) for $4.2 billion, sources confirmed to ESPN.

UEFA alleged that proper procedures were ignored and necessary consultations with relevant FIFA authorities were skipped during the deal's formulation. The organization also claimed that Infantino may have held personal interests in the proposed $4.2 billion valuation.

On Thursday, UEFA submitted an application to a Manhattan court in New York seeking evidence from investment firm Thrive Capital Management. Founded by Joshua Kushner, Thrive was among the potential investors in FFE.

In the 60-page court filing, UEFA requested communications and documents related to the FFE stake sale plan. The petition also targeted documents from FIFA's North American headquarters, Thrive, JP Morgan, and Greg Maffei, CEO of Ban Ventures.

UEFA lawyers stated in court filings that they are considering criminal proceedings in Switzerland under Article 158 of the Swiss Criminal Code against Infantino and possibly other FIFA officials for criminal mismanagement.

The original plan involved selling a 20 per cent stake in FFE, the entity handling FIFA's commercial operations including the World Cup, to investors led by Joshua Kushner's Thrive Capital.

However, major football governing bodies including UEFA, AFC, and CONCACAF strongly opposed the initiative from the start. Under intense pressure, Infantino cancelled the proposal on August 1.

UEFA had previously threatened to boycott FIFA tournaments over the controversy. The boycott threat was temporarily suspended this week after receiving assurances that no future attempts would be made to sell stakes in FIFA's commercial assets.

In an official statement, UEFA confirmed it agreed to temporarily suspend its decision to withdraw European teams from upcoming FIFA tournaments, including the Women's U-20 World Cup, U-17 World Cup, and Women's U-17 World Cup. UEFA added that it would regularly review the situation and reconsider its stance if necessary.