European football’s governing body has threatened legal action over Fifa president Gianni Infantino’s failed plan to carve out a $20bn commercial entity from the Swiss non-profit and sell a 20 per cent stake to private investors.
In a letter addressed to Infantino, Uefa warned it was “actively considering legal action, arbitration, and/or regulatory complaints” in relation to the world’s governing body’s proposal to raise more than $4bn from selling shares in a new entity that would have housed Fifa’s commercial rights.
The stake-sale plan, first revealed by the FT on Tuesday, rocked football and provoked a wave of criticism before Infantino backed down on Friday and said that the proposal “will not proceed”.
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