Uefa is preparing to launch criminal legal proceedings against Fifa president Gianni Infantino concerning a now-abandoned proposal to sell stakes in the World Cup and other competitions to private investors. Documents obtained by BBC Sport reveal that European football's governing body has submitted an application seeking access to evidence and documents for proceedings in Switzerland. Uefa accuses Infantino of criminal mismanagement and is also considering action against other Fifa officials.

The controversial plan, introduced shortly after this summer's World Cup, involved creating a new entity, Fifa Forward Enterprise (FFE), to sell stakes in Fifa's football events to private investors. This initiative was ultimately withdrawn following significant backlash from various stakeholders.

In its application for evidence, Uefa stated that the FFE was "a vehicle for Infantino and that small circle to acquire a permanent stake in and otherwise profit from Fifa's most valuable assets to the detriment of Fifa, its members, and other parties within the football family." The application further claims that the valuation of the stakes was not independently verified and would have been offered at a "fraudulently off-market price promoted by Infantino for his own benefit."

Infantino reportedly pushed the plan through Fifa's internal approval process in a hastily arranged meeting. Some management officials and employees present were allegedly given minimal time to review and approve the multi-billion dollar scheme, with some claiming they had never previously heard of the plan.

Key figures within Uefa and European football convened in Monaco before the Champions League draw, with Infantino's position being a central topic of discussion. A statement released by Uefa indicated that attendees unanimously "mandated the Uefa president and administration to pursue every available institutional, political and legal avenue necessary to secure fundamental reform, restore proper limits on presidential authority and ensure that Fifa is once again governed as an institution – not around one individual."

Uefa's legal application highlights concerns that under the terms proposed by Infantino, investors stood to gain a permanent financial interest in Fifa's commercial arm for $4.2 billion. This implied an "absurdly low enterprise value of only approximately $20 billion," a figure that Uefa asserts was neither the result of an open, competitive auction nor subjected to any independent testing.

Fifa and Gianni Infantino have been approached by BBC Sport for comment. The relationship between Uefa president Aleksander Ceferin and Fifa president Infantino has reportedly deteriorated in recent months, with this legal action marking a significant escalation.

This development raises serious questions about governance and financial transparency within Fifa, the global governing body for football. The legal proceedings initiated by Uefa underscore the deep divisions and ongoing power struggles within the sport's administrative structures.