Skip to content

FIFA scraps World Cup stake-sale after backlash; UEFA files legal letter

sportsAug 4, 202660210

UEFA confirmed to Al Jazeera that it has sent a preservation letter to FIFA after Gianni Infantino’s secret proposal to sell a stake in future World Cup profits was withdrawn. Infantino’s plan, which sought to raise $4.2bn from investors including Joshua Kushner’s New York firm and to spin off a $20bn FFE vehicle controlling commercial World Cup operations through 2038, was dropped after a global backlash. UEFA said its 55 member federations met and agreed to boycott all FIFA events while the proposal was active, and the Swedish federation said UEFA is seeking an alternative candidate for the FIFA presidency ahead of the March election. The Dechert-drafted letter, dated Friday and seen by the Associated Press, named 18 FIFA executives including Infantino, CFO Thomas Peyer, and Arsene Wenger, and warned that destruction or alteration of relevant materials could constitute spoliation of evidence. UEFA lawyer Andrew J Levander wrote that legal proceedings are reasonably anticipated and that UEFA is actively considering legal action, arbitration, and regulatory complaints arising from the FFE plan. Wenger issued a statement saying he was “not aware” of Infantino’s plans.

3 sources