A setback in the American courts
FIFA has lost its attempt to keep documents about its abandoned plan to sell part of the World Cup out of UEFA’s hands. According to L’Équipe, a US court on Thursday rejected the world governing body’s request to block an order for the material to be disclosed.
The consequence is concrete. Investment firm Thrive Capital, run by Joshua Kushner, and the bank JPMorgan must now hand over everything UEFA asked for: their exchanges, their financial analysis and the valuation methods they applied to the project, known internally as FIFA Forward Enterprise. The scheme, which would have brought private funds into the World Cup, never went ahead.
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What UEFA wants the files for
UEFA went through the American courts, notably in New York, to obtain the paperwork. L’Équipe reports that the goal is to support a criminal complaint European football’s governing body is considering in Switzerland against FIFA president Gianni Infantino, for “disloyal management”, an offence under the Swiss criminal code. For now that complaint remains a possibility rather than a filing.
The plan has caused friction for months. English FA chair Debbie Hewitt was among the senior figures who had already asked Infantino to open the books on it. Thursday’s ruling means some of those books are now heading to Nyon whether FIFA likes it or not.
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