RESOLVING THE LEDGER
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See the full story · 7 sourcesNYON, Switzerland (AP) — European soccer body UEFA has threatened FIFA with legal action over Gianni Infantino’s failed plan to sell a stake in future World Cup profits to private investors, and said any potential evidence should not be destroyed.
Infantino’s secretive proposal to raise $4.2 billion from investors including the New York investment firm of Joshua Kushner was dropped early Saturday, days after the revelation in media reports provoked a global furor.
UEFA led the backlash and on Thursday its 55 member federations met to agree boycotting all FIFA events and competitions while the proposal was active.
Now lawyers for UEFA have informed FIFA that the European body is “actively considering legal action, arbitration, and/or regulatory complaints ... arising out of and in connection with the FFE (FIFA Forward Enterprise) plan proposed by FIFA and all related matters.”
The letter dated Friday from the legal firm Dechert in New York was seen Monday by The Associated Press.
The letter named 18 FIFA executives who it said should retain data, documents and electronic messages as potential evidence.
“UEFA puts you on formal notice that any destruction, deletion, alteration, concealment, or loss of relevant materials following receipt of this notice — or following any earlier date on which you were, or reasonably should have been, aware that proceedings were anticipated — may constitute spoliation of evidence,” the letter said.
On Saturday, UEFA signaled it wants to end Infantino’s decade-long presidency , saying he had lost the confidence of world soccer and that “no option should be off the table.”
Hours earlier, Infantino withdrew the divisive proposal that offered FIFA’s 211 member federations one-off payments of $20 million each with a mid-September deadline to accept.
The FFE spin-off valued by FIFA at $20 billion would have taken control of the soccer body’s money-making commercial and tournament operations. The 211 members already effectively own the Zurich-based not-for-profit governing body.
It was the project of just one man, FIFA’s chief operating officer Kevin Lamour said in a stinging statement Friday to the AP which said staff felt deceived by their boss Infantino.
Legal proceedings are “reasonably anticipated,” UEFA’s lawyer Andrew J. Levander wrote, citing the belief of soccer stakeholders that the plan was “fundamentally incompatible with the proper governance of football.”
Opposition to Infantino
UEFA has been most outspoken against its former employee Infantino while the Asian Football Confederation and CONCACAF, the North and Central American and Caribbean soccer body, also have made strong statements to oppose Infantino’s plan.
Infantino has most support from his traditional base in Africa, while South America’s CONMEBOL is relying on him to expand the 2030 World Cup to 64 teams from 48. That would give more hosting games to Argentina, Uruguay and Paraguay, the home country of CONMEBOL president Alejandro Dominguez.
The private equity plan has provoked a stunning turnaround in fortunes for Infantino who left New York after the World Cup final two weeks ago seemingly a lock to be re-elected unopposed next March for a fourth and final term in office through 2031. The spin-off operation could have created a commissioner-like role for him beyond 2031 paying much more than his current $6 million annual salary and bonus deal as president.
FIFA briefed at the World Cup that Infantino had got pledged letters of support from about 200 of the 211 member federations.
Those letters are now likely being withdrawn across Europe with the Wales federation the first to announce its reversal.
The candidate deadline is Nov. 18 for an election exactly four months later in Morocco, one of Infantino's strongest allies and a co-host of the 2030 tournament with Spain and Portugal.
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AP soccer: https://apnews.com/hub/soccer and AP World Cup coverage
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