FIFA Advisor Resigns Over Controversial World Cup Stake Sale Plan
Carlos Cordeiro, a senior advisor to FIFA president Gianni Infantino, stepped down immediately on Friday, citing concerns over FIFA’s proposal to sell a stake in the World Cup. He called the plan “a bad deal for football.”
Cordeiro, who previously held high-ranking positions at Goldman Sachs and led the U.S. Soccer Federation, expressed his inability to stay in his role while FIFA moved forward with plans to establish a commercial subsidiary that would open up part of the World Cup to private investors.
In his resignation statement, Cordeiro emphasized, “I had no involvement in this proposal, and I oppose it unequivocally. It is not in the best interest of FIFA’s member associations or the long-term future of the sport.”
What Is FIFA’s Proposal?
FIFA is looking to create a $20 billion commercial subsidiary called FIFA Forward Enterprise (FFE) to manage the rights for major tournaments like the World Cup and the Club World Cup. The plan includes selling up to a 20% stake in this subsidiary to outside investors, which could generate around $4.2 billion.
A New York-based investment firm, linked to Joshua Kushner, is being considered as a key investor in this initiative.
Cordeiro, who joined FIFA in 2021 to provide strategic guidance, has urged member associations to reject this proposal. He highlighted his deep connection to football and his extensive experience in finance, stating, “The value of this asset is immense, and giving away part of it is a mistake.”
Concerns About Football’s Future
Cordeiro questioned the necessity of seeking new funds, arguing that FIFA is already in a strong financial position with substantial reserves and no debt. He noted that FIFA is projected to generate about $15 billion between 2022 and 2026.
He argued, “Selling a permanent stake in football’s most valuable asset for $4.2 billion doesn’t make sense. It risks mortgaging football’s future without a strong reason.”
Cordeiro encouraged FIFA’s 211 member associations to carefully consider the proposal before voting, warning of the potential long-term consequences of their decision.
“I hope they will voice their concerns, as decisions of this scale should prioritize the sport rather than profit motives,” he added.
Cordeiro’s Role at FIFA
Cordeiro became a senior advisor to Infantino in 2021, tasked with developing strategic plans to grow football worldwide. Infantino referred to him as “the right person” for modernizing FIFA’s regulatory framework and expanding the game.
Before joining FIFA, Cordeiro had an extensive career in investment banking and previously served as president of the U.S. Soccer Federation. He resigned from that position in 2020 amid controversy related to equal pay issues for the U.S. women’s national team.
Cordeiro’s resignation arrives at a pivotal moment for FIFA, as member associations are set to vote on this proposed commercial restructuring by September 19. Infantino, who has been at the helm since 2016, is also expected to run for another term as president next year.
