FIFA President Gianni Infantino faces severe pressure following the resignation of senior advisor Carlos Cordeiro, who quit in protest over a controversial plan to sell a minority stake in World Cup commercial operations to private investors.
Recall that Cordeiro, a former Goldman Sachs vice-chairman and ex-US Soccer Federation president, resigned on Friday after calling the proposal a bad deal for football.
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FIFA proposed creating a $20 billion commercial subsidiary called FIFA Forward Enterprise (FFE) to manage event operations, aiming to sell a 20% to 30% stake to outside investors, including a New York-based firm founded by Joshua Kushner.
Cordeiro stated that FIFA already generated $15 billion in revenue (2022–2026) with billions in reserves and zero debt, making a $4.2 billion equity sale an unnecessary mortgage on the sport’s future.
“As a senior advisor to the FIFA president, a former banker, and a lifelong football fan, I cannot stand by while FIFA considers selling a stake in the World Cup,” wrote Cordeiro, a former head of the US Soccer Federation.
“Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally.
“It is a bad deal for FIFA’s member associations, a bad deal for football, and a bad deal for the long-term future of the game.”
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Europe’s governing body threatened a complete boycott of FIFA tournaments unless the stake-sale project is scrapped.
CONCACAF and the Asian Football Confederation (AFC) officially joined the revolt, condemning the lack of due process and demanding urgent governance reviews.
However, FIFA has insisted that nobody is selling football and pledged to press ahead with an open consultation ahead of a September 19 deadline for member associations.
