UEFA pursuing legal action against FIFA, president Gianni Infantino after failed World Cup stake sale plan

Belgrade, Serbia - UEFA is initiating legal proceedings against FIFA, its president Gianni Infantino, and Thrive Capital, the primary investor in a now-failed $20 billion World Cup investment scheme, according to The Times and Front Office Sports. The move is not a lawsuit but rather an attempt to gather information through the discovery process to present to Swiss authorities as part of a criminal complaint.

The ultimate goal is to have charges brought against Infantino and potentially other FIFA officials for allegedly offering a stake in the FIFA Forward Enterprise (FFE) without adhering to the correct FIFA procedures. UEFA accuses Infantino of fraudulently presenting a deal for a 20% stake in FIFA's commercial events for $4.2 billion, which is deemed to be an off-market price benefiting Infantino and a select group to the detriment of FIFA, its members, and other entities in football.

Infantino rushed the plan through an internal FIFA approval process, giving a limited number of FIFA's management officials and employees little time to review it. The plan has faced widespread criticism from various confederations, including UEFA and Concacaf, who expressed their loss of confidence in Infantino and demanded significant changes to FIFA's leadership.

After The Times published the details, the plan was withdrawn, but UEFA announced it would consider boycotting FIFA-run competitions unless FIFA guarantees the scheme would not be revisited. Following the withdrawal, UEFA is set to call off its boycott after FIFA assured there would be no further plans to revive the sell-off proposal.

This decision comes as the Italian and Romanian football federations join the list of countries distancing themselves from Infantino, citing concerns over his governance and the direction of international competitions.