Saudi Arabia backs Infantino amid fallout from failed FIFA investment plan

UEFA has initiated a criminal complaint against FIFA President Gianni Infantino, seeking testimony and documents related to the creation of the failed FIFA Forward Enterprise (FFE) subsidiary. The subsidiary was a plan devised by Infantino to sell a stake in FIFA's commercial rights related to the men's and women's World Cups, as well as the Club World Cup.

UEFA and its legal team are considering pursuing a Swiss criminal proceeding under Article 158 of the Swiss Criminal Code, alleging that Infantino's actions constitute criminal mismanagement. The European governing body claims that Infantino developed the FFE plan in secret, bypassing FIFA's standard governance processes and not consulting with the FIFA Council.

UEFA maintains that the valuation included in the plan undervalued FIFA's commercial rights and was not subjected to an open auction or an independent valuation. The association is requesting access to documents pertaining to the background of the FIFA Forward Enterprise plan, including a meeting held in a New York City hotel on the eve of the World Cup final, where several senior FIFA directors were reportedly informed about the plan.

Two of the five directors who attended the meeting refused to endorse the plan, including chief operating officer Kevin Lamour, who has since left FIFA. UEFA seeks these documents to support a complaint it intends to lodge in Switzerland, the home of both UEFA and FIFA. Once these documents are obtained, UEFA plans to submit them as part of the complaint against Infantino.

Swiss counsel has confirmed that the proceeding is within the realm of reasonable contemplation under Swiss law, asserting that Infantino's actions described in the complaint rise to the level of criminal mismanagement. Despite significant pressure from UEFA and other continental federations such as AFC and CONCACAF, Infantino and FIFA ultimately abandoned the FFE plans. Infantino's subsequent resignation from FIFA, however, has not ended the pressure on him.