FIFA refuse UEFA demand to release info about Infantino and failed World Cup plan

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FT Desk

FIFA are refusing to release documents relating to Gianni Infantino's failed FIFA Forward Enterprise plan that would have seen private equity firms invest in the World Cup.

The FFE proposal would have allowed nations around the world to each receive a payment of around $40m. However, this money would have come from private equity firms who would have subsequently become shareholders in the World Cup.

That means these firms would have had a say in such factors like when and where the tournament is held.

After universal criticism, Infantino shelved the plans, but UEFA accused him of trying to sell the soul of football in their immediate response to the news. They would later accuse him of "criminal mismanagement".

UEFA subsequently launched criminal proceedings against Infantino and have demanded that every document relating to the FFE plans is released.

FIFA have refused to do that and said on Monday that UEFA's filing contained "numerous false or misleading statements about FIFA and Infantino".

"With no basis whatsoever, UEFA suggests that Mr Infantino sought to profit personally from the FFE proposal," FIFA continued.

"UEFA's suggestions that Mr Infantino violated any law or ethical principle are categorically without merit."

FIFA also described UEFA's conduct as "in bad faith and for the purpose of harassment".

Infantino recently announced his intention to run again for FIFA President in the next election in 2027 despite major confederations like UEFA and CONCACAF, as well as high-profile nations like France, Italy and England, all withdrawing support for his current term.

“UEFA’s most important mischaracterization, one that is necessary for its “investigation” into possible criminal mismanagement, involves FFE’s “enterprise value,” the court filing reads in part.

”UEFA asserts that FFE’s “enterprise value” of $20bn was “absurdly low” and therefore not indicative of an arm’s-length transaction, but rather unlawful backroom-dealing. UEFA claims that a fair enterprise valuation for FFE would have been “materially above $30bn”.

“But UEFA, whether deliberately or through ignorance, conflates equity value with enterprise value. It is undisputed that FFE’s “initial equity valuation” — meaning “the value that remains for the shareholders after any debts have been paid off” — was $20bn.

“Materials distributed to FIFA’s member associations reveal that FFE’s total “enterprise value” on the other hand — meaning the “entire value of the business” — was well over $30bn.”