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European soccer body UEFA warns FIFA of legal action over Infantino's failed World Cup sell-off plan - Costa Rica News

UEFA has issued a warning to FIFA about possible legal action following Gianni Infantino's failed plan to sell World Cup broadcasting rights. This development underscores the growing friction between the two soccer governing bodies.

UEFA, the governing body for European soccer, has issued a warning to FIFA regarding potential legal action stemming from Gianni Infantino's unsuccessful initiative to sell a stake in future World Cup profits to private investors. UEFA has also requested that FIFA preserve any relevant evidence related to this matter.

Infantino's Controversial Proposal

Infantino's plan aimed to generate $4.2 billion from investors, including the New York investment firm led by Joshua Kushner. However, the proposal was abandoned shortly after it became public, triggering widespread criticism. UEFA was at the forefront of the backlash, with its 55 member federations convening to discuss a boycott of all FIFA events while the proposal was still under consideration.

Legal Considerations and Future Elections

In a letter from the New York law firm Dechert, UEFA's lawyers informed FIFA that they are "actively considering legal action, arbitration, and/or regulatory complaints" related to the FIFA Forward Enterprise (FFE) plan. The letter specified that 18 FIFA executives, including Infantino and chief finance officer Thomas Peyer, should retain all pertinent data and documents as potential evidence. UEFA emphasized that any destruction or alteration of relevant materials could be seen as spoliation of evidence.

Additionally, the Swedish soccer federation confirmed that UEFA is exploring alternative candidates for the FIFA presidency ahead of the upcoming election scheduled for March. UEFA has expressed a desire to end Infantino's tenure, stating that he has lost the confidence of the global soccer community and that "no option should be off the table." Infantino had previously withdrawn his controversial proposal, which included one-off payments of $20 million for each of FIFA's 211 member federations, with a mid-September deadline for acceptance.

Source: news.net