Key facts
- Uefa has hired Andrew Levander, former Chair of Dechert, to challenge Fifa President Gianni Infantino's Fifa Forward Enterprise plan.
- Infantino's plan to sell 20% of the Fifa Forward Enterprise vehicle for $4 billion has faced significant backlash.
- Uefa has informed Fifa that it is considering legal action, arbitration, and regulatory complaints.
- The plan is alleged to be incompatible with proper football governance.
- Several entities, including Joshua Kushner's Thrive Capital, were involved in the proposed funding.
Uefa has enlisted prominent US white-collar lawyer Andrew Levander to challenge Fifa President Gianni Infantino's controversial plan to sell stakes in the Fifa Forward Enterprise vehicle. The European football body has informed Fifa that it is actively considering legal action, arbitration, and regulatory complaints over the proposal, which aimed to raise $4 billion by selling 20% of the entity.
Infantino's plan, intended to treble payouts to member associations, faced significant backlash after details were leaked, prompting him to reverse the proposal. A legal letter, naming 18 Fifa executives, stated that legal proceedings were anticipated, alleging the plan was fundamentally incompatible with proper football governance. Executives were instructed to preserve relevant documents and communications.
The core of the dispute involves the $4.2 billion Fifa Forward Enterprise plan, which would have relied on funding from Joshua Kushner's venture capital firm, Thrive Capital. Uefa's lawyers have also sent legal letters to entities including Greg Maffei, JP Morgan, and OpenEconomics.