FIFA accuse UEFA of 'misinformation campaign' in response to filing

[p]Last month, UEFA asked a US federal ‌court for permission to obtain testimony and documents for use in a planned criminal complaint in Switzerland against ‌FIFA President Gianni Infantino over a now-abandoned plan to transfer World Cup commercial ‌rights into a subsidiary called FIFA Forward Enterprise (FFE).[/p][p]In its response to the filing on Monday, FIFA ‌said UEFA's brief contained "numerous false or misleading statements about FIFA and Infantino".[/p][p]"[b]With no basis ‌whatsoever, UEFA suggests that Mr Infantino sought to profit personally from the FFE proposal[/b]," FIFA said in a filing in the Southern District of Florida, opposing UEFA’s motion for discovery.[/p][p]"[b]As[/b] [b]explained, the FFE plan ‌was subject to approval by both the FIFA member associations ⁠and FIFA Council, and FFE would have ‌been subject to oversight by both groups within FIFA[/b].[/p][p]"[b]UEFA's suggestions that Mr Infantino violated any law ​or ethical principle are categorically without merit[/b]."[/p][p]UEFA did not immediately respond to a Reuters request for comment.[/p][h2]FFE Valuation[/h2][p]UEFA alleged Infantino developed the proposal in secret with ​a small group of advisers and investors, bypassing FIFA's normal governance processes and failing to consult FIFA's Council, regional confederations or member associations.[/p][p]The filing seen by Reuters asked ⁠a US court to authorise discovery ​from FIFA (AMERICAS), Inc and FWC2026 US, Inc, two Florida-based FIFA entities.[/p][p]UEFA said in the legal filing that investors would have paid $4.2 billion for a stake in FIFA Forward Enterprise, valuing the business at about $20 billion.[/p][p]It added that the valuation significantly undervalued FIFA's commercial rights and alleged ‌it was not subjected to an open auction or tested by an independent valuer.[/p][p]"[b]UEFA, whether deliberately or through ignorance, conflates equity value with enterprise value[/b]," FIFA said.[/p][p]"[b]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 $20 billion[/b].[/p][p]"[b]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 $30 billion...[/b][/p][p]"[b]Indeed, FFE's enterprise value was well in excess of twice the equity value, and therefore far above the value UEFA says would be fair[/b]."[/p][h2]Attempt to influence election?[/h2][p]The FFE project was abandoned ‌in July following opposition from confederations, including UEFA, CONCACAF and the Asian Football Confederation, ​over a lack of consultation, with the dispute fuelling demands for changes to ‌FIFA's governance.[/p][p]Last week, Infantino wrote to all 211 member associations proposing an independent review of the governing body's decision-making processes.[/p][p]The Swiss administrator is up for reelection in March next year, with FIFA alleging that UEFA's legal filings were an attempt to influence that election.[/p][p]"[b]Just before FIFA's election, UEFA filed this 1782 Application (and three others) spreading misinformation ⁠regarding Mr. Infantino[/b]," FIFA said.[/p][p]"[b]This court ⁠should reject any attempt to influence ‌FIFA’s presidential election based on these grounds[/b]."[/p]