FIFA Adviser Quits Over World Cup Stake Sale, Says It Is ‘Bad for Football’

FIFA Adviser Resigns Over World Cup Stake Sale, Calls It ‘Bad Deal for Football’

Senior adviser to FIFA president Gianni Infantino, Carlos Cordeiro, has resigned with immediate effect, protesting the governing body’s proposal to sell a stake in the commercial rights of the FIFA World Cup. Calling the plan “a bad deal for football,” Cordeiro said he could not support a move that would allow private investors to own part of the sport’s most valuable competitions.

A former vice chairman at Goldman Sachs and ex-president of the U.S. Soccer Federation, Cordeiro said he had no role in developing the proposal and publicly urged FIFA’s member associations to reject it.

“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,” he said in a statement.

What FIFA Is Proposing

FIFA plans to establish a new commercial entity, FIFA Forward Enterprise (FFE), valued at around $20 billion, to manage the commercial rights of the FIFA World Cup, Club World Cup and other flagship tournaments.

Under the proposal, up to 20% of the new company would be sold to outside investors, potentially generating about $4.2 billion. Reports indicate that a New York-based investment firm founded by Joshua Kushner, younger brother of Jared Kushner, has been identified as the lead investor.

‘Mortgaging Football’s Future’

Cordeiro questioned the need for FIFA to sell part of its commercial rights, arguing that the organisation already has a strong financial foundation.

He pointed to FIFA’s multibillion-dollar reserves, debt-free balance sheet and projected $15 billion revenue cycle for 2022-2026, saying there was no financial justification for selling a permanent stake in its most valuable assets.

“Selling a permanent stake in football’s most valuable asset to raise $4.2 billion makes little sense. It is mortgaging football’s future without any compelling justification,” he said.

He also urged FIFA’s 211 member associations to carefully evaluate the proposal before voting, warning that the long-term consequences could outweigh the short-term financial gains.

Background

Cordeiro joined FIFA in 2021 as a senior adviser to Infantino, helping shape strategic initiatives aimed at expanding football globally. Before that, he spent more than three decades in investment banking at Goldman Sachs and served as president of the U.S. Soccer Federation until stepping down in 2020.

His resignation comes as FIFA prepares for a key vote on the commercial restructuring proposal, with member associations expected to decide on the plan by September 19. The development also comes ahead of the next FIFA presidential election, where Infantino is widely expected to seek another term.